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According to Decrypt, U.S. Senator Warren recently expressed concerns about Musk's planned payment platform X Money, stating that it could pose risks to consumer protection, national security, and the stability of the financial system.Warren pointed out that after acquiring and reshaping X, Musk is pushing it to become a "super app" that covers "all aspects of users' financial lives," potentially even replacing the traditional banking system. She questioned the performance of the X platform in terms of security and content governance, believing that this undermines its credibility in entering the consumer finance sector.Additionally, Warren criticized the current regulatory environment for becoming more lenient, including the "GENIUS Act" promoted by the Trump administration, which provides a "special pathway" for private companies to issue stablecoins, potentially weakening necessary regulatory constraints.

According to Decrypt, U.S. Senator Thom Tillis stated that the Senate is expected to release a revised draft text on stablecoin yield distribution this week.Currently, there is a disagreement between banks and crypto companies on whether cryptocurrency exchanges should be allowed to pay yields to stablecoin holders through reward programs, and this controversy has stalled the legislative process of the Clarity Act. The White House Council of Economic Advisers recently released a report stating that banning stablecoin yields would have a minimal impact on small banks, only increasing bank lending by 0.02%. However, the American Bankers Association believes this analysis underestimates the risks. Observers point out that if the draft provisions are too strict, it may lead users and liquidity to flow to other jurisdictions that allow yields.

U.S. Senator Lummis stated on social media that the previous administration led to an outflow of the digital asset industry. She emphasized that now is the time to establish clear regulatory rules for the digital asset industry and welcome its return to the U.S., calling for the passage of the Clarity Act.

U.S. Senator Cynthia Lummis stated that the United States should not continue to delay the legislative process of the CLARITY Act, or it may take nearly four years to push for improvements in the regulatory framework for the cryptocurrency industry again.She posted on social media platform X, saying, "This is our last chance to pass the CLARITY Act before at least 2030," and emphasized that "we cannot let the future of American finance be put at risk." The bill aims to provide a clearer regulatory structure for the cryptocurrency industry, clarifying the responsibilities of regulatory agencies to promote industry innovation and market development. With the U.S. midterm elections approaching, there are concerns that congressional priorities may shift, slowing down the legislative process.Former White House AI and cryptocurrency affairs head David Sacks also expressed support for advancing the bill as soon as possible, stating, "Now is the time for action," and anticipated that the relevant market structure legislation would ultimately be signed into law by the president. In the industry, several individuals, including Coinbase CEO Brian Armstrong, have recently called for an expedited legislative process, believing that clear rules will promote innovation and increase market participation. On the regulatory side, SEC Chairman Paul Atkins also expressed support for advancing comprehensive market structure legislation to avoid ongoing regulatory uncertainty affecting industry development.

According to Politico, three U.S. senators are questioning Trump's use of a luncheon event as bait to promote the purchase of TRUMP coins by "catering" to participants.Senators Elizabeth Warren, Adam Schiff, and Richard Blumenthal have written to the event organizers requesting relevant documents to understand Trump's role in the planning, promotion, and potential profits of the April 25 event at Mar-a-Lago. The event is limited to the top 297 investors holding TRUMP tokens.Notably, Trump is also scheduled to attend the White House Correspondents' Association dinner in Washington that day, raising questions about whether he can participate in both events. The event terms also state that Trump "may not be able to attend." The senators pointed out that the organizers are still using "access to the president" as a promotional point despite doubts about Trump's attendance, effectively encouraging the purchase of the Meme coins he issued, thereby profiting Trump and his family.

U.S. Senator Richard Blumenthal wrote to SEC Chairman Paul Atkins, questioning the brief tenure of former enforcement head Margaret Ryan and the reasons for her departure, and expressing concern over the SEC's dismissal of charges against Tron founder Justin Sun.Blumenthal stated in his letter that her sudden departure raises questions, especially amid reports that SEC leadership intervened in the enforcement division, limiting the progress of certain cases involving cryptocurrency companies. According to media reports, Ryan had attempted to strengthen investigations into fraud-related cases, including those involving individuals connected to President Trump, but faced opposition from some Republican leaders on the committee.In the Justin Sun case, the divisions are particularly evident. Previously, during the Biden administration, the SEC charged Sun and his affiliated companies with unregistered securities offerings through TRX and BTT tokens, and alleged market manipulation through wash trading, while also paying celebrities for undisclosed promotions. However, under the current administration, the SEC has dismissed several enforcement cases against cryptocurrency companies, including Coinbase, Kraken, and Binance, raising concerns in the market about changes in regulatory direction.

U.S. Senator Cynthia Lummis stated that the CLARITY Act, after its latest revision, will provide "the strongest protection" for DeFi and developers. This response addresses concerns raised by crypto lawyer Jake Chervinsky regarding the developer liability provisions in the draft, noting that bipartisan adjustments have been made to strengthen legal protections for non-custodial software developers.However, Chervinsky pointed out that the current draft's definition of funds transfer may still expose some DeFi developers to liability risks, as the relevant provisions have not been fully clarified. Reports indicate that the latest revised version of the bill has not yet been made public and is expected to advance to the Senate Banking Committee for review in April.

U.S. Senator Elizabeth Warren wrote to Secretary of Commerce Howard Lutnick, requesting information regarding the potential national security risks associated with Bitmain, and expressing concerns about its business dealings with the Trump family.The letter requests the disclosure of communication records between Bitmain and Eric Trump and Donald Trump Jr. Reports indicate that the FBI is conducting an investigation named "Operation Red Sun" to assess whether there are risks of remote control related to the mining equipment. Previously, U.S. regulatory agencies have repeatedly questioned the safety of Bitmain's products. Bitmain responded that the related accusations are untrue, and American Bitcoin Corp stated that its safety tests found no issues.

According to Cointelegraph, Tim Scott, the chairman of the U.S. Senate Banking Committee, stated that bipartisan support has been gained for cryptocurrency market structure legislation, and consensus within the industry is the final obstacle. He revealed that communication with Coinbase has taken place, and all parties are still at the negotiating table.

U.S. Republican Senator Cynthia Lummis stated that we have come too far to return to a state of regulatory uncertainty. Digital assets represent the future, and now is the time for the U.S. to provide the necessary development environment for them.

Crypto journalist Eleanor Terrett posted on the X platform that Senator Cynthia Lummis stated that the CLARITY crypto bill "must be completed by the end of the year, no matter what." She also revealed that the Republican side of the Senate Banking Committee plans to initiate the bill markup process in late April after the Easter holiday.Regarding the issue of stablecoin yields, Cynthia Lummis stated that a solution has basically been reached, and she also mentioned that the related disputes in the negotiations on DeFi-related provisions have been properly addressed.

According to Jinshi reports, U.S. Democratic Senator Warren stated that President Trump is obstructing the Federal Reserve from lowering interest rates.

According to DL News, Tim Scott, the chairman of the U.S. Senate Banking Committee, stated at the Washington Blockchain Summit that the "Digital Asset Market Structure Act" (CLARITY Act) has made significant progress, and the first new draft will be submitted for review this week.The bill aims to establish a regulatory framework for the U.S. cryptocurrency market and was passed with bipartisan support in the House of Representatives last July, but has since stalled in the Senate. The main points of contention include: the issue of stablecoin yield authority (with the banking industry pressuring to prohibit cryptocurrency exchanges from paying users interest on stablecoins), ethical provisions regarding officials holding or founding cryptocurrency businesses, anti-money laundering mechanisms for decentralized finance (DeFi) protocols, and the bipartisan representation issue in financial regulatory agencies. Currently, Trump has publicly sided with the cryptocurrency industry, supporting the allowance of stablecoin yields. Congressman Dusty Johnson warned that the time window is narrowing. If the midterm elections in November result in the Democratic Party regaining control of Congress, the bill is likely to be shelved. He called for 3 to 4 Democratic senators on the relevant Senate committee to break the internal party resistance, while also urging the cryptocurrency industry not to raise demands arbitrarily during negotiations to avoid further delaying the overall process.

According to CoinDesk, Tim Scott, the chairman of the U.S. Senate Banking Committee, stated at the Washington DC Blockchain Summit that the previously stalled cryptocurrency market structure bill is making substantial progress behind the scenes, with the first draft expected to include language related to stablecoin yields.Scott mentioned that the issue of stablecoin yields is the most publicly discussed topic in the bill, and currently, Democratic Senator Angela Alsobrooks, Republican Senator Thom Tillis, and White House official Patrick Witt are actively working to resolve this issue.On other pending topics, Scott revealed that several disagreements have entered the negotiation stage over the past month, including: ethical issues raised by former President Trump and his family's cryptocurrency projects, the quorum issue regarding bipartisan committee seats in major regulatory agencies, and DeFi regulation and anti-money laundering (AML) compliance requirements. Scott stated that these issues are all progressing, and the overall situation is improving.

According to Cointelegraph, data shows that for the week ending March 9, Polymarket and Kalshi set all-time highs in nominal trading volume, reaching $2.49 billion and $2.85 billion, respectively. Dune data indicates that the continued growth in trading activity has driven the total nominal trading volume of all prediction markets to $14.5 billion, with the number of unique users reaching 2.8 million.Meanwhile, U.S. Democratic Senator Adam Schiff has introduced the "DEATH BETS Act," which aims to amend the Commodity Exchange Act (CEA) to explicitly prohibit federally regulated prediction markets from listing contracts related to war, terrorism, assassination, and personal death. Previously, six Polymarket traders faced insider trading allegations after profiting $1 million from accurately betting on a U.S. attack on Iran.

According to Cointelegraph, three Democratic senators from the United States have stated that they will oversee the Justice Department's alleged investigation into Binance for violating sanctions related to Iran. Senators Chris Van Hollen, Elizabeth Warren, and Ruben Gallego said in a joint statement that they will conduct oversight to ensure the Justice Department investigates Binance and holds it accountable for any wrongdoing.The Wall Street Journal reported on Wednesday, citing sources familiar with the matter, that the Justice Department is investigating whether Iran may have used Binance to evade sanctions. The senators stated that Binance has a documented history of prioritizing profits over the law, raising serious concerns about the company potentially violating U.S. sanctions laws again and funding activities related to terrorist organizations linked to Iran. Binance previously responded that it was unaware of any investigation but has been cooperating with regulatory and law enforcement agencies to investigate the facts. Binance has filed a lawsuit on Wednesday against a February article by The Wall Street Journal, claiming it constitutes defamation.

According to Cointelegraph, U.S. Senate Majority Leader John Thune stated that the Senate is not expected to advance digital asset market structure legislation before April. Thune mentioned that the Senate plans to prioritize voting on the "Save America Act," which requires voters to provide identification as proof of U.S. citizenship for registration. The market structure bill is expected to move forward after the vote on this act, likely not until around April when it can be submitted by the Banking Committee.This is inconsistent with the earlier expectations of Ohio Senator who hoped to pass congressional legislation in April. The Senate Agriculture Committee has advanced its version of the bill, but the Banking Committee has postponed the merger procedures that were due in January. Last week, President Trump accused banks of "holding hostage" the bill, and although the White House has held three meetings with representatives from the crypto and banking industries, it remains unclear as of Thursday whether policymakers have reached any agreements.

According to market news, U.S. senators are trying to push forward the stalled cryptocurrency market structure bill, the CLARITY Act, through a compromise on the issue of stablecoin yields.The banking industry had previously successfully lobbied to pause the bill due to concerns that stablecoin yields would siphon off bank deposits. Maryland Senator Angela Alsobrooks, who is involved in the negotiations, stated at a banking summit that both sides may need to "compromise a bit" to allow for innovation growth while preventing deposit outflows. Senator Mike Rounds pointed out that yields should be tied to account activity rather than the amount held.JPMorgan CEO Jamie Dimon hinted at the acceptability of a transaction-based yield model, which is also the position put forth by the cryptocurrency industry at the White House meeting. The recent rules proposed by the Office of the Comptroller of the Currency leave considerable room for customer incentive-based yield programs. Although the banking industry continues to emphasize the risks of yield loopholes to their business models, the bill could still advance to committee review if senators reach an agreement on the new compromise.

According to a report by crypto journalist Eleanor Terrett, at the American Bankers Association (ABA) summit in Washington, Senator Alsobrooks told community bankers that all parties may need to make compromises in the advancement of the Clarity Act, stating that "perfection cannot be an obstacle to achieving goals."She revealed that she is working with Senator Thom Tillis on a compromise plan aimed at preventing deposit outflows while leaving room for innovation.

According to Jinshi News, Federal Reserve Chairman nominee Kevin Warsh will meet with a Republican senator this week, who previously obstructed the nomination confirmation due to opposition to Trump's attacks on the Federal Reserve.Warsh's meeting aims to resolve differences and advance the nomination, reflecting the Trump administration's intent to intervene in the independence of the Federal Reserve. This event could impact the leadership changes at the Federal Reserve and the future direction of U.S. monetary policy.