Amendments to a long-awaited crypto market structure bill slated to be marked up in the Senate Banking Committee Thursday would force lawmakers to vote for or against the banking industry's desired changes to the legislation.

The community bank trade group says crypto firms are combining stablecoin rules, Fed master account access and trust charters to replicate banking without bank rules.

Banks continue to push back on what they describe as insufficient protections against stablecoin yield as the Senate Banking Committee is poised to mark up its long-awaited crypto market structure bill this week.

The 21st century financial system that digital currency promised is being built, but by banks, not by the bitcoin crowd.

Interpretive guidance from regulators does not deliver the kind of certainty that companies want as they consider expanding into the world of digital assets. Congressional action on the CLARITY Act is the answer.

The pilot program offers rates better than Coinbase, Robinhood and Charles Schwab and will be rolled out to all of Morgan Stanley's 8.6 million E-Trade users later this year.

Public comments on the Office of the Comptroller of the Currency's GENIUS Act implementing regulations highlighted the rift between banks and crypto firms over the permissibility of yield on stablecoin holdings, an issue that has stalled crypto market structure legislation for months.

CEO Brian Armstrong said the company will flatten its org chart to five management layers and concentrate hiring around "AI-native" pods.

Sens. Thom Tillis, R-N.C., and Angela Alsobrooks, D-Md., said that they "agree to disagree" with bank lobbyists on their objections to their newly released stablecoin-yield provision.

Mainstream financial services firms moving into the crypto realm are rightly skittish about consolidating trading, custody, lending, staking and settlement in a single provider. The crypto industry is, instead, entering a world of "co-opetition."

The debate over how to define yield in terms of stablecoin rewards feels like the debate over how to define usury in medieval Europe.

Sens. Thom Tillis, R-N.C., and Angela Alsobrooks, D-Md., have released compromise language on stablecoin yield for a long-awaited crypto market structure bill, clearing the way for a markup in the near future.

The president's son has seemingly cut ties with the digital asset fintech ALT5 Sigma, whose shares lost 90% of their value after purchasing the tokens.

New York extracted $5 million and a broker registration from Uphold over its promotion of CredEarn, a yield product whose issuer collapsed in 2020.

While stablecoins aren't widely used for payments, banks still have a role to play in leading the market.

Regulators can compel regulated stablecoin issuers to perform AML checks and even freeze assets. But there are a lot of digital currencies out there beyond stablecoins.

There's been an onslaught of nonbank financial technology company charter applications and approvals already this year.

Banks weighing stablecoin partnerships need to know whose playbook regulators will endorse before another major crypto theft tests the question.

The cryptocurrency company has collaborated with payment tech firm Nium to enable conversions to traditional currency, a play to boost use of the digital assets for payments and diversify Coinbase's revenue sources.

Iran is charging tolls to cross the Strait of Hormuz, and demanding payment in crypto, which helps it both raise money and evade U.S. sanctions.