Crypto Bill Amendments Heat Up in Senate
This Thursday, the U.S. Senate Banking Committee will hold a critical hearing and vote on amendments to the crypto market structure bill. More than 70 bipartisan proposals are under consideration, sparking intense debate around stablecoin yields, DeFi oversight, and regulatory authority.
Since the bill’s release by Committee Chairman Tim Scott, several key disputes have emerged. First, whether to restrict yield-generating features on certain platforms has become a hot topic. Second, the provision in 'Chapter One' granting one agency priority in classifying digital assets has raised concerns over regulatory overreach. Lastly, the newly proposed DeFi clauses are criticized for being overly broad, potentially imposing unrealistic compliance burdens on decentralized protocols.
- Stablecoin yield rules remain contentious
- DeFi oversight scope sparks industry alarm
- Regulatory turf battles continue
Conflict-of-Interest Provision Likely Removed
Notably, a Democratic-backed clause addressing crypto-related conflicts of interest for public officials is expected to be excluded from the final bill, drawing sharp criticism from watchdog and consumer advocacy groups. The legislation must still align with a version from the Senate Agriculture Committee before proceeding to a full Senate vote.