According to Bloomberg, amid the delays in advancing the Crypto Market Structure Act due to disagreements over stablecoins, the crypto industry has recently proposed new compromise plans to banks, including requiring stablecoin issuers to hold part of their reserves at community banks and paving the way for community banks to issue their own stablecoins through partnerships to alleviate concerns about potential deposit withdrawals. Currently, both sides have not yet reached an agreement on the specific plan.
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According to Bloomberg, amid the delays in advancing the Crypto Market Structure Act due to disagreements over stablecoins, the crypto industry has recently proposed new compromise plans to banks, including requiring stablecoin issuers to hold part of their reserves at community banks and paving the way for community banks to issue their own stablecoins through partnerships to alleviate concerns about potential deposit withdrawals. Currently, both sides have not yet reached an agreement on the specific plan.