President Donald Trump's top crypto advisor is sparking optimism in getting broader cryptocurrency legislation passed into law.
Negotiations over how to treat stablecoin rewards are intensifying as lawmakers return to Washington D.C. next week.
The crypto bill, or the Clarity Act, remains stuck in the Senate, and Congress is now on a two-week Easter break.
Frustrations are continuing to boil over in the crypto industry as it finds itself again at an impasse over the treatment of stablecoins.
David Sacks is leaving his post as the White House's crypto and artificial intelligence czar, but he isn't going far.
The SEC and CFTC have issued crypto interpretive guidance, but the big question now is whether that clarity has staying power.
Key negotiators in advancing sweeping crypto legislation have reached an "agreement in principle" around the treatment of stablecoin yield.
A Senate panel plans to hold a hearing to amend and vote on a broad cryptocurrency market structure bill in April.
"We reject the idea that a deal has to come together in the next several weeks," said TD Cowen’s Jaret Seiberg.
The Digital Chamber and international financial technology platform Money20/20 are partnering to expand policy discussions.
Trump's direct involvement is required, but it is hard to see that occurring while the U.S. is in armed conflict with Iran, TD said.
Top Republican Rep. French Hill has some advice for his colleagues in the Senate on how to unstick its stablecoin yield problem.
"To us, the banks will eventually lose on this issue politically as they are arguing against consumers getting paid money."
Even as crypto sentiment remains weak, JPMorgan analysts see the possible mid-year approval of U.S. market structure legislation as a positive catalyst.
Former FTX CEO Sam Bankman-Fried's support of a broader cryptocurrency bill isn't sitting well with either side of the aisle in the Senate.
"This would ensure Democrats could immediately control those agencies if they win the 2028 presidential election," TD said.
Crypto industry views diverge on the likelihood that Washington will pass legislation in 2026, with estimates ranging from 25% to 60%.
Fed. Governor Christopher Waller said the central bank plans to roll out its "skinny master account" proposal before the end of the year.
Disagreements over stablecoin yield provisions between banks and the crypto industry have contributed to delays in the U.S. crypto market structure bill.
Sen. Mark Warner said he feels like he's stuck in "crypto hell" as the Senate Banking Committee tries to revive stalled talks.
The Avalanche Policy Coalition unveiled a new advisory council, led by Ava Labs General Counsel Lee Schneider.
Crypto advocacy groups called a White House meeting on Monday to discuss an intensely contested topic on how to treat stablecoin rewards.
And the more significant challenge is securing enough Democratic support in the Senate for the crypto legislation, TD Cowen added.
Representatives from Coinbase, crypto trade groups and banking organizations are expected to meet next week to discuss the treatment of stablecoin rewards.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The CFTC is joining forces with the SEC on “Project Crypto”, an initiative aimed at modernizing cryptocurrency regulation.
Broad crypto market structure legislation advanced out of a key Senate committee on Thursday on a party-line vote.
The market structure legislation for the first time advanced beyond a committee, setting up the next steps that could end with a vote of the overall chamber.
Tether CEO Paolo Ardoino says he is not taking a position on the debate over stablecoin yields, a flashpoint that has stalled legislation.
The White House plans to convene a meeting next week with senior leaders from the banking and cryptocurrency sectors, Reuters reported.