Credit unions reject stablecoin rewards, bitcoin traders look to inflation data: Crypto Daybook Americas

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Source: CryptoNewsNet Original Title: Credit unions reject stablecoin rewards, bitcoin traders look to inflation data: Crypto Daybook Americas Original Link: U.S. credit unions joined banks in rejecting reward payments for holding stablecoins while crypto traders await U.S. inflation data that could boost bitcoin buying.

The Digital Asset Market Clarity Act is a proposed regulatory framework that categorizes digital assets into three main categories: digital commodities like bitcoin and ether overseen by the CFTC, investment contract assets regulated by the SEC and permitted payment stablecoins. Credit unions, banks and crypto firms disagree on the payment of interest on stablecoin holdings.

They seem to have secured a win for now. Senate lawmakers released an updated draft on Tuesday morning, prohibiting digital asset service providers from paying “any form of interest or yield” solely for holding payment stablecoins.

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