Ahead of the Senate Banking Committee's review of the stablecoin bill this Thursday, Senator Jack Reed has proposed an amendment to explicitly prohibit cryptocurrencies from being used as legal tender, including for tax payments. Additionally, Senator Elizabeth Warren has submitted over 40 amendments, one of which aims to prevent the Federal Reserve from granting master accounts to cryptocurrency companies. Furthermore, Senators Reed and Smith have jointly proposed an amendment to include restrictions on banks' stablecoin yield offerings in the bill.
U.S. Senators Propose Amendments to Restrict Crypto Use in Stablecoin Bill
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