The U.S. Senate Banking Committee is set to vote on the Crypto Market Structure Act by the end of April, as negotiations over stablecoin rewards intensify. The bill's progress has been stalled due to disagreements on the treatment of stablecoin rewards, with the GENIUS Stablecoin Act prohibiting issuers from paying interest directly to holders but allowing third-party platforms to offer rewards.
Treasury Secretary Scott Bessent has called for swift passage of the bill, emphasizing its importance in a Wall Street Journal article. Meanwhile, Senator Cynthia Lummis highlighted the urgency, stating this is the last chance to pass the Clarity Act before 2030. A White House report suggests stablecoin rewards are unlikely to affect bank lending significantly.
U.S. Senate Banking Committee to Vote on Crypto Market Structure Act by Month's End
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