A crucial week in U.S. cryptocurrency regulation is unfolding, with industry and banking representatives in closed-door Senate deliberations over a stablecoin bill text. According to reports, this compromise measure prohibits the use of traditional banking terminology like "deposits" to refer to stablecoins, which could mean that yield on idle balances will be banned. A significant White House economic study is reportedly more favorable to cryptocurrency than critics expected, easing concerns about "deposit flight." The Senate Banking Committee plans to hold a vote in April and hear final input from banks before the Easter recess.

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