Sen. Angela Alsobrooks (D-Md.) called for a compromise on the issue of stablecoin rewards on Tuesday, emphasizing that perfect should not be the “enemy” of the good.

No Concessions On Interest On Idle Balance

Speaking at the American Banking Association Summit, Alsobrooks expressed firm support for the banking industry and pledged to take necessary steps to prevent “deposit flight” from these institutions.

“It’s really important that we do not allow payment on a [stablecoin] balance that would cause deposit flight.” Alsobrooks, also a member of the Senate Banking Committee, stated. “So, making sure that we are not allowing bank-like products without bank-like protections.”

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