Industry representatives saw the crypto market structure bill’s proposed yield language on March 23 and 24. The internet — at least X (formerly Twitter) — was unhappy, but it may not matter much.

You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.

The narrative

We* have new language outlining how the crypto market structure bill could address stablecoin yield.

*Only some people have seen the language, though it should be released for public consumption and review next.

Why it matters

Senator Cynthia Lummis (R-Wyo.) said earlier this month that she expected a market structure bill markup — the hearing where lawmakers debate…