Senate Unveiled Crypto Market Structure Bill
U.S. lawmakers have formally introduced the Senate version of the long-awaited digital asset market structure bill, kicking off a high-stakes legislative battle between the crypto industry and the traditional banking sector – one that now centers squarely on whether stablecoins can pay yield.
The draft text, released late Monday ahead of a scheduled committee markup on Thursday, seeks to establish the first comprehensive regulatory framework for crypto markets in the United States.
But buried in the bill is a controversial provision that would prohibit crypto platforms from paying interest or rewards on payment stablecoins, a clause that has already drawn sharp opposition from industry leaders.
What the bill does
The proposed…
