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. members of Congress return to Capitol Hill next week, negotiations over the handling of “stablecoin rewards” are growing increasingly intense. The Senate Banking Committee plans to vote on the Crypto Market Structure Act by the end of this month, and the treatment of stablecoin rewards has been the main obstacle preventing the bill from advancing in the committee over the past year. The GENIUS stablecoin bill passed in July last year prohibits issuers from paying interest directly to holders, but it 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 significant 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)