Warren files over 40 amendments to block crypto companies from obtaining Federal Reserve master accounts

Techub News News, according to bitcoinist, the U.S. Senate Banking Committee received over 100 amendments before Thursday's mark-up of the CLARITY Act. Senator Warren submitted over 40 amendments aimed at preventing crypto companies from obtaining Federal Reserve master accounts, and Senator Reed proposed banning the use of cryptocurrency assets for tax payments. The new market structure text released by committee chairman Tim Scott and others will serve as the basis for the mark-up. Scott stated that the bill is intended to protect consumers and enhance competitiveness. Currently, the point of contention is the restriction on stablecoin rewards, with the banking sector demanding stricter limits on rewards similar to deposit interest, forcing lawmakers to choose between the cryptocurrency industry and traditional banking.