⚡A major earthquake in U.S. crypto regulation is coming! Over 100 amendments are flying in! Are lawmakers banned from shilling crypto? Will stablecoin interest disappear? Family and friends! On May 13, the U.S. threw another “grand slam” in crypto regulation—directly blowing up the entire industry!

According to an exclusive leaked list from POLITICO, the Senate Banking Committee’s crypto market structure bill scheduled for review this Thursday is proposing more than 100 amendments in one go! This isn’t a routine bill revision at all—it’s clearly different factions fighting for territory at the regulatory chessboard. Like gods at war, while we retail investors should grab our little folding chairs and get ready to watch 🍉 Let me first lay out why this is so important: this bill is the U.S. government’s move to formally set rules for the crypto industry that has been growing wildly for more than a decade. The core of it is to draw clear lines for the responsibilities and authority of each regulatory agency.

These 100+ amendments are “private agenda” being stuffed into the bill by lawmakers from all sides, each bringing their own behind-the-scenes interest demands. For every single one, its fate—and whether it passes—could rewrite the industry’s future and directly affect the prices of the coins we hold.

Among these proposals, a few are especially explosive and closely related to us, so I’ll highlight the key points. The harshest move comes from two Democratic senators, Jack Reed and Tina Smith—they directly propose a total ban on stablecoins earning interest! This is basically poking a hornet’s nest 💥 Right now, how many people hold stablecoins? Isn’t it mainly because they’re “stable” and still can earn interest higher than banks, basically lying back for profit? If this ban really goes through, a massive amount of funds will likely flee overnight, and the market is almost certain to experience a wave of intense volatility.

The most explosive “hot take” across the internet is here! Senator Chris Van Hollen proposes banning the U.S. president, members of Congress, and their immediate family members from holding any cryptocurrencies—and they also can’t have any financial interests connected to crypto projects! This is practically a “cutting off your own arm” move 🤔 After all, too many lawmakers previously made money off insider information in the crypto world, and they’ve been criticized so heavily they simply couldn’t take it anymore. Whether it’s sincere cleanup or just putting on a show, if it actually gets implemented, at the very least it could reduce some truly disgusting insider trading—and that’s a small comfort for us retail “grass-movers.”

Not all news is bad! Senator Catherine Cortez Masto proposes setting up a “safe harbor” for crypto software developers, so they don’t end up being blamed or jailed just for working. In plain language: as long as they aren’t intentionally helping people commit scams or launder money, programmers won’t be arrested just because bad actors misuse the code they wrote.