Negotiations on the U.S. cryptocurrency legislation enter a critical week, with the Senate Banking Committee planning to vote before the end of this month.

ME News Report, April 12 (UTC+8). As U.S. Congress members are set to return to Capitol Hill next week, negotiations over the handling of “stablecoin rewards” are becoming increasingly intense. The Senate Banking Committee plans to hold a vote on the Crypto market structure bill by the end of this month; the treatment of stablecoin rewards has been the primary obstacle that has prevented the bill from moving forward in the committee over the past year. The GENIUS Stablecoin Act, passed in July last year, prohibits issuers from directly paying interest to holders but does not restrict third-party platforms from providing rewards. A recent report released by White House economists shows that stablecoin rewards are unlikely to have a major impact on bank lending. Treasury Secretary Scott Bessent has published an article in The Wall Street Journal urging the Senate to pass the bill as soon as possible. Senator Cynthia Lummis said this is the last chance to pass the Clarity Act before 2030. (Source: Foresight News)