Banks will try again to stop crypto platforms from paying yield on stablecoin balances, but TD Cowen’s Washington analyst Jaret Seiberg puts only a 10% chance on Congress enacting such a ban over the next two years, he wrote in a Monday policy note shared with Bitcoin Magazine and clients.

The issue is whether exchanges and other platforms can offer yield or rewards to investors who keep dollar-pegged stablecoins on their platforms. Seiberg views action as unlikely, though he sees a “narrow path” for a ban.

His rationale is procedural as much as political: it may be easier to find 60 Senate votes on stablecoin yield alone than on the broader crypto market structure bill,…

Read more on BitcoinMagazine