Overview
- Patrick Witt said Wednesday the plan is a Banking Committee markup in May, a Senate vote in June, and House action before Independence Day.
- Reports Thursday said Senate Banking prepared to notice a markup and shared draft text with industry, with a May 14 vote floated by Hill watchers.
- A Tillis–Alsobrooks deal would bar interest‑like returns on stablecoin balances while allowing narrow activity rewards, and major bank groups say the language still falls short and could reduce loans by about 20%.
- Senator Kirsten Gillibrand warned the bill will not move without an ethics provision that bans senior officials from crypto holdings, and the White House signaled support for broad rules that do not single out any person.
- The bill would set federal rules for digital assets and divide oversight between the SEC and CFTC, and new polling shows 52% of voters back passage.