American lawmakers are moving towards a milestone in cryptocurrency regulation, as a key Senate committee is set to vote on the comprehensive Market Structure Bill. The proposed framework aims to address the longstanding jurisdictional dispute between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) by clarifying token classifications and expanding the authority of the CFTC. However, a major conflict over restrictions on stablecoin reward programs threatens this process, with industry leaders warning that such restrictions could undermine the dollar's global dominance as financial activities shift on-chain.