US senators have submitted more than 130 amendments ahead of hearings on the crypto market structure bill.
PANews reported on January 14th that, according to documents obtained by CoinDesk, US senators have submitted over 130 amendments ahead of Thursday's hearing on the Crypto Markets Structure Act. These provisions are wide-ranging, including a complete ban on stablecoin yields, a prohibition on public officials profiting from crypto gains, and revisions to the definition of digital asset mixers. The senators who submitted the amendments are from both parties: Democrats include Ruben Gallego, Angela Alsobrooks, and Elizabeth Warren, while Republicans include Thom Tillis, Cynthia Lummis, and Tim Scott. Some amendments have bipartisan support; for example, of the three amendments jointly submitted by Tillis and Alsobrooks, two address the stablecoin yield-related provisions in the bill. One proposes removing the word "solely" to tighten restrictions, while another aims to increase reporting and risk guidance requirements related to yields.
The Senate Banking Committee will hold a hearing on Thursday to debate the amendments and vote on whether to adopt them, ultimately deciding whether to advance the bill. A similar hearing on the Senate Agriculture Committee has been postponed until late January.
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