US Senate Crypto Bill Amendments Spark Debate Ahead of Committee Vote

The US Senate's Digital Asset Market Clarity Act is set to undergo a markup process this week, with several amendments pending approval. The proposed changes aim to reshape key aspects of the market structure bill and have attracted significant attention from lawmakers.

Among the most notable amendments are those related to stablecoin yield limits, developer safe harbors, and conflict-of-interest rules. Democratic Senators Elizabeth Warren and Jack Reed are leading efforts to remove key protections for Decentralized Finance (DeFi) and strengthen conflict provisions.

The committee is also considering Republican Senator Bill Hagerty's proposal to ban central bank digital currencies issued by the US Federal Reserve. Meanwhile, Senator Catherine Cortez-Masto has proposed a safe harbor to shield software developers from criminal liability for failing to register as money transmitters at the state or federal level.