More Than 100 Amendments Filed to U.S. Senate Cryptocurrency Bill

Huoxing Finance reports that a leaked document obtained by POLITICO shows members of the U.S. Senate Banking Committee have filed more than 100 amendments to the Crypto Market Structure Act, which is scheduled for consideration on Thursday. The proposals focus on stablecoin yields, safeguards for software developers, and ethics standards. Democratic Senators Jack Reed and Tina Smith called for tighter restrictions on stablecoins paying interest; Senator Chris Van Hollen proposed barring the president, members of Congress, and their families from holding cryptocurrencies or maintaining related affiliations; and Senator Catherine Cortez Masto offered a safe-harbor provision to protect software developers from criminal liability. Senator Andy Kim also proposed reestablishing the Department of Justice's National Crypto Enforcement Task Force. The legislation is intended to clarify which regulators have jurisdiction over cryptocurrencies.