Senate publishes draft market structure bill limiting stablecoin rewards

The Senate Banking Committee released the full text of a proposed market-structure bill that includes limits on stablecoin rewards and is scheduled for committee markup this week.

Senate officials released the full text of a proposed market-structure bill that includes limits on stablecoin rewards. The release came ahead of a planned Senate Banking Committee markup this week. The same episode reported that major cryptocurrencies traded higher after December inflation data came in lower than expected. Polygon Labs' CEO discussed the firm's acquisitions of Coinme and Sequence as moves to expand its stablecoin payments footprint. Key points: - The Senate Banking Committee published the full text of proposed market-structure legislation that includes limits on stablecoin rewards. - The committee has scheduled a markup of the bill for this week. - The report noted major cryptocurrencies trading higher after lower-than-expected December inflation data. - Polygon Labs discussed acquisitions of Coinme and Sequence aimed at expanding its presence in stablecoin payments. Summary: The draft bill includes provisions that would limit stablecoin reward programs, and the Senate Banking Committee is set to mark up the legislation this week. Market reactions and industry moves were also reported, including higher crypto prices after inflation data and Polygon's acquisitions related to stablecoin payments.