The American encryption industry plans to make concessions in the stablecoin field in exchange for a key legislation "pass" permit.

For weeks, cryptocurrency companies have been working hard to win the support of skeptical banks in order to salvage a comprehensive digital asset bill that could reshape a key part of the market. Now, these cryptocurrency companies are making new concessions in the controversial core area - stablecoins. According to sources, the new proposal includes giving community banks a greater role in the stablecoin system - for example, by holding reserves or issuing tokens through partnerships. While not all cryptocurrency companies agree with these ideas, these gestures of goodwill indicate that they are doubling down on efforts to push through the market structure bill. The bill, which passed in the House of Representatives last year, has been progressing slowly due to various disagreements within the Senate. One of the major points of contention is whether cryptocurrency exchanges like Coinbase Global should pay rewards to users holding stablecoins (a type of virtual asset designed to maintain the value of the US dollar). Banks believe that this arrangement could pose a potential threat to checking and savings accounts, as these accounts are where customers keep idle funds. On Monday, the Trump administration held a meeting at the White House, bringing together cryptocurrency and banking trade groups, but negotiations ultimately failed to reach any agreement on how to resolve key points of contention. Sources revealed that cryptocurrency companies recently proposed some possible compromises. Some sources say that these proposals include requiring stablecoin issuers to hold some of their reserves (funds supporting their virtual assets) in community banks. Another source said there was a proposal to streamline the process for community banks to issue their own stablecoins. They emphasized that both sides have not yet reached consensus on the solutions. It is currently unclear whether these proposals are sufficient to address banks' concerns about customer withdrawals. Chairman of the Senate Banking Committee, Tim Scott, told the media on Wednesday that he still hopes both camps can find a balance. He said, "We can protect consumers and community banks, while also reducing prices, expanding market coverage through innovation and competition. Both sides are working to find compromise solutions to ensure that innovation stays in the United States."