Coinbase has reportedly declined to back the latest Senate compromise on regulating stablecoin yields, raising fresh doubts about industry support for the proposal and its chances in Congress.
Sen. Tim Scott said a stablecoin yield deal could be reached this week, while the White House may announce as soon as tomorrow that it has progressed on the key issue delaying the crypto market structure bill. If confirmed, the move could reduce regulatory uncertainty for issuers and DeFi.
Ripple’s Chief Legal Officer Stuart Alderoty met over the weekend with Senator Kirsten Gillibrand (D‑NY) to discuss regulatory policy for digital assets, a development market observers say could signal constructive engagement between industry and lawmakers.
Sen. Richard Blumenthal has launched a formal Senate Homeland Security Committee investigation into Binance after reports the exchange allegedly facilitated $1.7 billion in crypto transfers to Iranian entities tied to terrorism. The probe targets Binance's Hong Kong operations and requests internal records and communications.
Sen. Mark Warner urged passage of a market-structure crypto bill Thursday, saying Congress should act to create lasting rules. SEC chief Paul Atkins warned that failure could leave regulatory gaps and heighten risks for markets and investors.
Treasury Chief Scott Bessent urged crypto actors who reject regulatory clarity to leave the U.S. for places like El Salvador, and reiterated banking lobby worries about a pending bill during Senate testimony Thursday.
The Senate Agriculture Committee approved its version of a crypto market-structure bill on Thursday in a party-line vote, advancing legislation that centers market oversight with the CFTC. The move clears a key committee hurdle and pushes the measure closer to Senate floor consideration.
The White House will mediate talks to resolve a standoff between banks and crypto firms over how stablecoin rewards should be treated, a dispute that has stalled a Senate crypto bill. The outcome could determine whether Congress advances comprehensive market-structure reforms for digital assets.
U.S. senators are preparing to consider amendments to a crypto market structure bill that would affect the Commodity Futures Trading Commission and other regulatory aspects after the agency was left with only one Senate‑confirmed commissioner.
Coinbase’s VP of U.S. Policy Kara Calvert said “fatal flaws” discovered hours before a scheduled Senate markup led the company to withdraw support for the crypto bill. The sudden reversal could complicate efforts to deliver clearer U.S. rules for digital assets.