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The legislative delay in the structure of the U.S. cryptocurrency market, the Senate Banking Committee's review in April is unlikely.
Deep Tide TechFlow News, April 21, According to The Block, key negotiator of the U.S. Senate Banking Committee and North Carolina Republican Senator Thom Tillis stated that the committee is currently unable to schedule hearings for revisions and voting on the Crypto Market Structure Bill within April. Currently, the main disagreement in legislation centers on how to handle stablecoin rewards. The draft proposes banning rewards paid to idle stablecoin accounts but allowing earnings from trading activities; banking industry representatives worry that such earnings will attract deposit outflows from traditional banks, while crypto companies believe restricting rewards will hinder innovation. Tillis suggested that the committee delay the review until May. Previously, Senator Bernie Moreno warned that if the bill is not passed before May, “legislation on digital assets will be unable to advance in the foreseeable future.”