TechFlow news, January 8th, according to CoinDesk, U.S. Senate Banking Committee Chairman Tim Scott had previously indicated that a hearing on the crypto market structure bill would be held on January 15th. However, negotiation documents reveal that consensus has not yet been reached in four key areas, with the main points of contention including:
1. DeFi: There is a requirement for decentralized finance (DeFi) to be subject to supervision equivalent to that of U.S. federally regulated financial companies, but its fundamental definition and issues remain unresolved.
2. Stablecoin Yield: The GENIUS Act stipulates that stablecoin issuers cannot offer interest, but their affiliated companies can provide yields and customer reward programs. The banking industry believes this may threaten its core deposit business, and some Democrats wish to restrict crypto yields.
3. Ethics: There is a requirement to prohibit senior U.S. government officials from deriving personal benefits from crypto activities.
4. CFTC: The U.S. Commodity Futures Trading Commission (CFTC) will play a leading role in cryptocurrency regulation, but the allocation of seats between the two major U.S. political parties within the CFTC needs to be balanced.
