Overview
- The bipartisan text, published Friday by Sens. Thom Tillis and Angela Alsobrooks, bans deposit‑like interest on stablecoin balances yet permits rewards for bona fide platform use such as transactions or participation.
- Major crypto groups and firms including Coinbase, Circle, the Blockchain Association, and the Crypto Council for Innovation urged the Senate Banking Committee to hold a markup the week of May 11.
- The SEC scheduled a May roundtable to address how it and the CFTC will split oversight of digital‑asset markets, and the bill instructs Treasury and the CFTC to issue implementing rules within one year of enactment.
- Fresh hurdles persist as Sen. Tillis flagged law‑enforcement objections to a DeFi developer‑liability provision and Sen. John Kennedy has not joined a push for full Republican support on the committee.
- Prediction markets lifted the odds of 2026 passage after the text was released, reflecting a view that the compromise materially improves the bill’s chances.