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."
JPMorgan's CEO argued that yield-bearing stablecoins should face the same regulatory requirements as bank deposits amid policy negotiations.
The Senate Banking Committee's bipartisan "ROAD to Housing Act" includes a provision banning the Fed from issuing a CBDC before 2031.
Commodity Futures Trading Commission Chair Michael Selig tapped David Miller to lead the agency's enforcement division.
Even as crypto sentiment remains weak, JPMorgan analysts see the possible mid-year approval of U.S. market structure legislation as a positive catalyst.
Some senators warned that stablecoin yields could blur the line between crypto products and traditional bank deposits.
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.
Predictions markets are a "huge issue" that federal regulators are focused on, SEC Chair Paul Atkins told lawmakers on Thursday.
Crypto industry views diverge on the likelihood that Washington will pass legislation in 2026, with estimates ranging from 25% to 60%.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
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.
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.
The American Innovation Project is launching a new fellowship program for recent college graduates to work alongside lawmakers.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Gold's breakout above $5,000 and Clarity Act uncertainty are putting crypto's next market move to the test, Matt Hougan said.
Negotiations in the Senate Agriculture Committee shifted in the new year, said a Senate Democratic aide with knowledge of the conversations.
A hearing to amend and vote on sweeping cryptocurrency legislation was pushed back a few days due to snowy weather in Washington D.C.
We have a new draft and fresh questions.
Ahead of a hearing next week to debate and vote on a sweeping crypto bill, members filed several changes to the legislation.