U.S. Crypto Market Structure Bill Negotiations Hit a Snag: Main Disagreements Over DeFi Regulation and Stablecoin Yields

Deep Tide TechFlow News, January 8 — According to CoinDesk, Senator Tim Scott, chairman of the U.S. Senate Banking Committee, previously stated that a hearing on the Crypto Market Structure Bill would be held on January 15. However, negotiation documents show that four key issues remain unresolved, with major disagreements including:

1. DeFi: Calls for decentralized finance (DeFi) to be supervised at the same level as federally regulated financial institutions, but its basic definition and issues are still unresolved.

2. Stablecoin Yields: The GENIUS Act prohibits stablecoin issuers from offering interest, but their affiliated companies can provide yields and customer reward programs. The banking industry believes this could threaten their core deposit business, and some Democrats want to restrict crypto earnings.

3. Ethical Standards: A ban on senior U.S. government officials personally profiting from crypto activities.

4. CFTC: The U.S. Commodity Futures Trading Commission (CFTC) will play a leading role in cryptocurrency regulation, but the allocation of seats between the two U.S. parties within the CFTC needs to be balanced.