Senator Tim Scott: Progress has been made in negotiations on the crypto market structure bill, and the stablecoin yield proposal is expected to be finalized this week

According to CoinDesk, Tim Scott, the chairman of the U.S. Senate Banking Committee, stated at the Washington DC Blockchain Summit that the previously stalled cryptocurrency market structure bill is making substantial progress behind the scenes, with the first draft expected to include language related to stablecoin yields.

Scott mentioned that the issue of stablecoin yields is the most publicly discussed topic in the bill, and currently, Democratic Senator Angela Alsobrooks, Republican Senator Thom Tillis, and White House official Patrick Witt are actively working to resolve this issue.

On other pending topics, Scott revealed that several disagreements have entered the negotiation stage over the past month, including: ethical issues raised by former President Trump and his family's cryptocurrency projects, the quorum issue regarding bipartisan committee seats in major regulatory agencies, and DeFi regulation and anti-money laundering (AML) compliance requirements. Scott stated that these issues are all progressing, and the overall situation is improving.