Catenaa, Tuesday, January 13, 2025- Senate negotiators are racing to resolve disputes over stablecoins and presidential ethics as a sweeping crypto market structure bill approaches a decisive moment ahead of next week’s committee vote.

Members of the Senate Banking Committee are weighing changes to a draft that would divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission while defining a new category for ancillary digital assets.

Committee Chair Tim Scott said the panel plans to amend and vote on the bill on January 15.

Democratic support remains uncertain. Lawmakers familiar with the talks say the current version would fail to attract Democratic votes in committee, a problem that could doom the measure on the Senate floor, where 60 votes are required for passage.

One sticking point is how to regulate stablecoin yield. Banks argue weak limits could pull deposits from local lenders. Sen. Angela Alsobrooks has proposed allowing exchanges to offer yield only when customers actively transact, not when stablecoins sit idle.

The proposal has drawn interest from both parties, though the White House has signaled reluctance to reopen the issue.

Another unresolved issue involves ethics provisions tied to President Donald Trump’s family crypto ventures. Democrats have raised concerns about conflicts of interest linked to those businesses.

Talks between senators on adding ethics language continue, though progress has been uneven.

The timing adds pressure as midterm elections approach. Crypto-focused political action committees and advocacy groups have expanded their reach since the 2024 election cycle, increasing their influence as lawmakers finalize positions.

With key votes days away, unresolved disputes threaten to stall legislation intended to set long-sought rules for the digital asset industry.