Stablecoin Proposal Rejected by Rep Hill

Rep. French Hill Rejects Interest Proposal for Stablecoin Holdings

• Representative French Hill addressed stablecoin regulation discussions on April 1.
• Hill rejected the proposal to allow consumers to earn interest on stablecoins due to a lack of consensus among lawmakers.
• The STABLE Act (H.R. 2392) is under discussion, aiming to regulate stablecoins without provisions for earning interest.
• The latest version of the STABLE Act was released on April 2, 2025, with amendments but no interest-bearing provisions.
• Industry leaders like Coinbase’s CEO Brian Armstrong advocate for interest-bearing stablecoins, arguing it would benefit consumers and the economy.

Representative French Hill emphasized the absence of consensus in Congress regarding interest payments on stablecoins as discussions continue around the STABLE Act, which currently lacks such provisions despite industry advocacy.