SENATE UNVEILS UPDATED MARKET STRUCTURE BILL

Summary from the TLDR Crypto newsletter

A bipartisan market structure manager's amendment from Senate Banking Chair Tim Scott would ban paying interest or yield for holding payment stablecoins while allowing activity-based incentives tied to transacting, staking, liquidity provision, or posting collateral. The bill includes a Lummis-Wyden developer liability shield, drew threats from firms like Coinbase over tougher restrictions, omits a proposed ethics clause related to the Trump family's crypto ventures, and is heading to a committee markup as senators work to reconcile competing committee bills.