ChainThink reports that on March 18, according to CoinDesk, Tim Scott, Chairman of the U.S. Senate Banking Committee, stated at the Blockchain Summit in Washington, D.C., that the previously stalled Crypto Market Structure Act is making substantial progress behind the scenes, with a new draft of at least the stablecoin-related provisions expected this week.
Scott said that stablecoin yields have been the most publicly discussed issue in the bill, with Democratic Senator Angela Alsobrooks, Republican Senator Thom Tillis, and White House official Patrick Witt actively pushing for a resolution to this issue.
On other outstanding issues, Scott revealed that over the past month, several points of disagreement have entered negotiation stages, including ethical concerns surrounding President Trump and his family’s crypto projects, the lack of quorum due to vacant bipartisan seats at major regulatory agencies, and regulatory oversight of DeFi and AML compliance requirements. Scott stated that all these issues are progressing, with the overall situation improving.