U.S. Senator submits over 130 amendments, focusing on stablecoin yields and DeFi

U.S. Senators have submitted over 130 amendments regarding the upcoming review of the cryptocurrency market structure bill this week. The amendments cover topics such as stablecoin yield rules, DeFi provisions, restrictions on public officials' involvement in cryptocurrency interests, and adjustments to the definitions of digital asset mixers and tumblers. These amendments have been proposed by senators from both the Democratic and Republican parties.

The Senate Banking Committee will hold a review meeting this Thursday to discuss the relevant amendments and vote on whether to include them in the bill text, followed by a vote on whether to advance the legislative process. Some amendments show bipartisan support, including proposed changes to the stablecoin yield provisions, such as removing the current text's references to "solely due to holding stablecoins" and strengthening yield disclosure and risk warning requirements.