US Republican lawmakers demand release of White House report on stablecoin interest

During a hearing for the crypto market structure bill (CLARITY), Republican members of the U.S. Senate Banking Committee pressured the White House to release a new research report from its Council of Economic Advisers (CEA), according to Eleanor Terrett, host of Crypto in America. The lawmakers urged Patrick Witt, director general of the White House's crypto advisory committee, to make the document public. The report covers the potential impact of stablecoin interest on deposit outflows and bank lending. While Republican members of the committee have been briefed on its findings, the document itself remains undisclosed. Meanwhile, Wyoming Senator Cynthia Lummis has stated that a nearly 99% consensus has been reached on the stablecoin interest provisions within the bill.