U.S. Senate Banking Committee Halts Crypto Bill Vote Over Yield-Bearing Stablecoin Clash

The U.S. Senate Banking Committee has paused a vote on major cryptocurrency market structure legislation amid a dispute over yield-bearing stablecoins. Lawmakers, banks and crypto firms are divided over tokens offering annualized returns without traditional oversight, with some warning that trillions of dollars in deposits could shift from smaller banks into stablecoins.