Anthony Noto(@anthonynoto):Why are we wasting time with a new stablecoin yield proposal? There is already a path to provide yield on Digtial Assets by becoming a bank (an insured depository institution, IDI) and having the required safety and soundness standards to take people's money and invest it to drive yield. Trust Banks shouldn't be able to offer yield on ANY asset. Please do not lower the standard from having to be an IDI to be able to provide yield on any assset. The current mark-up works for everyone except a few. If those "few" want to offer yield on digital assets like stablecoins they should apply for a Bank IDI license not ask the Senate to lower the standard to safeguard the American people's money. @SenatorTimScott @SenLummis @SenThomTillis @SenateGOP @SenateBanking @patrickjwitt

2026.04.03 18:53

Why are we wasting time with a new stablecoin yield proposal? There is already a path to provide yield on Digtial Assets by becoming a bank (an insured depository institution, IDI) and having the required safety and soundness standards to take people's money and invest it to drive yield. Trust Banks shouldn't be able to offer yield on ANY asset. Please do not lower the standard from having to be an IDI to be able to provide yield on any assset. The current mark-up works for everyone except a few. If those "few" want to offer yield on digital assets like stablecoins they should apply for a Bank IDI license not ask the Senate to lower the standard to safeguard the American people's money. @SenatorTimScott @SenLummis @SenThomTillis @SenateGOP @SenateBanking @patrickjwitt

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