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The House Committee on Financial Services has confirmed that the markup session for the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act will take place on April 2.The session will review the Amendment in the Nature of a Substitute (ANS), a revised version of the bill introduced on March 26. The updated draft refines definitions, strengthens compliance mechanisms, and outlines criteria for issuer qualification.Additionally, the bill continues to include provisions prohibiting the issuance of yield-bearing stablecoins, which proponents argue should be removed.Yield-bearing stablecoins prohibitedIt distinguishes qualified issuers into federally regulated institutions, nonbank entities approved by the Comptroller of the Currency, and state-supervised entities operating under certified regimes.The STABLE Act, led by Representatives Bryan Steil (R-WI) and French Hill (R-AR), proposes a comprehensive federal framework for regulating payment stablecoins.Despite these updates, the ANS retains language prohibiting yield-bearing stablecoins, which has become a point of contention in ongoing industry discussions.The restriction applies to stablecoins that distribute interest derived from reserve assets, a feature some view as critical for user adoption and economic utility.Proponents of the bill maintain that the prohibition reflects concerns around investor protection and regulatory clarity, especially as interest-bearing instruments may fall under existing securities laws.Coinbase CEO Brian Armstrong advocated on March 31 for the inclusion of on-chain interest functionality, arguing that prohibiting yield-bearing stablecoins denies users access to competitive financial tools.Democratizing accessArmstrong emphasized that stablecoins backed by short-term US Treasuries could enable users to receive interest directly, similar to an interest-bearing checking account, without requiring the issuer to act as a bank.He cited Federal Reserve data showing that in 2024, the average consumer savings account offered only 0.41% interest, compared to a 4.75% federal funds rate, resulting in significant losses in purchasing power due to inflation and financial intermediation.Armstrong contended that on-chain interest democratizes access to higher yields and allows stablecoin holders to retain more value from underlying reserves.He further noted that global consumers in underbanked regions could benefit from stablecoins that function as dollar-denominated interest-bearing assets.In his view, prohibiting on-chain interest undermines the benefits of financial inclusion, transparency, and real-time accessibility that stablecoins offer.Despite the initial pushback, amendments to remove the restriction could still be introduced and debated during the markup process.Mentioned in this article

Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENEThe makers of fantasy role-playing game RavenQuest will launch the QUEST token on the gaming-focused Ethereum layer-2 network Immutable zkEVM on Wednesday.Developed by Tavernlight Games, the free-to-play massively multiplayer online role-playing game—or MMORPG—released for PC on March 14. Now the studio is launching RavenQuest’s native token to “fuel” its economy.“QUEST is not waiting for a use case,” the game posted on X (formerly Twitter). "It plugs directly into a live game where utility isn't a future promise, it's reality.”We flipped the Script: Game First, Token Second. RavenQuest isn't just as cinematic trailer or demo. It's a live, content-rich MMORPG built over 8+ years with a continuously growing playerbase.$QUEST isn’t the product — it’s the fuel for this living economy

FORT LAUDERDALE, Fla., April 1, 2025 /PRNewswire/ -- AutoNation (NYSE: AN) today announced that it has acquired Groove Ford and Groove Mazda, effective March 31, 2025. The dealerships have been rebranded and will now operate under the names AutoNation Ford Arapahoe and AutoNation Mazda Arapahoe. In 2024, the stores sold nearly 5,000 new and used vehicles with approximately $219M in annual revenue. Both stores are located in Englewood, Colorado, and mark the first AutoNation Mazda and second AutoNation Ford in the state, bringing AutoNation's substantial footprint in Colorado to 13 Domestic, 6 Import, and 3 AutoNation USA dealerships concentrated in the greater Denver area."We are excited to welcome Groove Ford and Groove Mazda and their nearly 200 new associates to AutoNation," said Mike Manley, Chief Executive Officer at AutoNation. "These acquisitions build on our strategy to add density into markets where we already have a presence. It allows us to rapidly bring significant scale synergies to the new dealerships, expanding on the current success of these stores and delivering strong returns to our shareholders."About AutoNation, Inc.AutoNation, one of the largest automotive retailers in the United States, offers innovative products, exceptional services, and comprehensive solutions, and empowers its customers to make the best decisions for their needs