Galaxy Digital Inc. (NASDAQ: GLXY) CEO Mike Novogratz said Wednesday that the cryptocurrency industry will have to eventually compromise on the controversial stablecoin rewards clause in the market structure bill.
Will Crypto Lobby Lose Against Banking Lobby?
In a discussion with SkyBridge Capital founder Anthony Scaramucci, Novogratz said the industry is “going to lose that battle” against what he described as a “very strong” banking lobby.
“There’ll be a compromise. The compromise is that the stablecoin companies will be able to give some reward points out for usage, but not balances,” he predicted.
Democrats Are Committed, Says Novogratz
Novogratz said that the bill, as a whole, is “good” for the industry to move forward.
“You’ll do that, and then …