U.S. Senate Committee Delays Crypto Market Structure Bill Hearing

The U.S. Senate Banking Committee is unlikely to hold a hearing on the crypto market structure bill in April, according to North Carolina Republican Senator Thom Tillis, a key negotiator. According to BlockBeats, the main legislative disagreement centers on the handling of stablecoin rewards. The current draft proposes banning rewards for idle stablecoin accounts while allowing profits from trading activities. Banking representatives are concerned that such profits could lead to a withdrawal of deposits from traditional banks, whereas crypto firms argue that restricting rewards could hinder innovation. Tillis has suggested postponing the committee's review until May. Previously, Senator Bernie Moreno warned that if the bill is not passed by May, "digital asset legislation will not advance in the foreseeable future."