Key US senator eyes breakthrough for stalled crypto bill this week

The Senate Banking Committee has been looking to advance its crypto market structure bill since postponing a markup in January.

US Senator Tim Scott says he is expecting a possible compromise this week on a stablecoin yield payments provision that has stalled a crypto market structure bill in the Senate.

“I believe that this week we will have the first proposal in my hands to take a look at,” Scott, the chair of the Senate Banking Committee that is working to advance the bill, said on Tuesday at a crypto lobby event in Washington, D.C.

“If that actually happens before the end of this week, and I think that it will [...] I think we’re going to be in much better shape,” he added.

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