Senators Submit More Than 75 Amendments to Crypto Legislation Ahead of Key Hearing

U.S. senators have introduced more than 75 proposed amendments to major cryptocurrency bills just days before a critical hearing scheduled for this week, according to legislative documents. The amendments span a wide range of issues—from an outright ban on stablecoin yields, to restrictions preventing government officials from profiting from crypto investments, as well as changes to how digital asset mixing services are classified. Proposals have been submitted by lawmakers from both major political parties.

Markup Session Set for Thursday The Senate Banking Committee will meet on Thursday for a markup session, during which lawmakers will debate the proposed amendments, vote on whether to adopt or reject them, and then decide whether the main bill should advance. A similar session planned by the Senate Agriculture Committee has been postponed until late January. The Banking Committee’s base text was released shortly before midnight on Monday. Since then, lawmakers and industry representatives have been closely scrutinizing the details.

Some Bipartisan Support, Especially on Stablecoins Several amendments have drawn bipartisan backing. Senators Thom Tillis and Angela Alsobrooks jointly introduced three proposals, two of which focus on stablecoin rewards. One would remove the word “exclusively” from language stating that a digital asset service provider “may not pay any form of interest or yield (whether in cash, tokens, or other consideration) exclusively in connection with holding a payment stablecoin.” Their other proposal would revise reporting requirements and introduce risk-disclosure obligations for yield payments. Additional amendments also target the stablecoin rewards section, with some seeking to eliminate yield payments entirely. As is typical during congressional markup sessions, most proposed amendments are not expected to pass. Many may also be withdrawn following negotiations, meaning only a small subset is likely to make it into the final bill.

Ethics Concerns Remain Unresolved It remains unclear whether lawmakers have resolved ethical concerns raised earlier by Democrats. Central to the dispute are questions surrounding President Donald Trump’s and his family’s ties to the cryptocurrency industry, which Democrats formally outlined in a document released last fall. While Senator Ruben Gallego has reportedly been involved in negotiations over ethics provisions, none of the amendments attributed to him appear—based on their descriptions—to directly address those issues. Senator Chris Van Hollen introduced a proposal calling for “anti-corruption provisions,” along with another amendment requiring disclosure of financial interests, labeled an “anti-propaganda requirement.” A Democratic staffer said Tuesday evening that discussions on ethics are ongoing but that no agreement has yet been reached, describing ethics as “one of the few remaining points of contention” in the talks.

Disputes Over Regulator Appointments Another flashpoint involves the composition of key regulatory bodies. Senator Lisa Blunt Rochester proposed amendments related to quorum requirements, reflecting Democratic concerns that President Trump has not appointed any Democrats to commissions that are legally intended to be bipartisan. These concerns focus on the Securities and Exchange Commission and the Commodity Futures Trading Commission, both of which currently have only Republicans in leadership roles.

Who Submitted the Amendments Democratic senators submitting amendments before Tuesday’s deadline include Gallego, Alsobrooks, Blunt Rochester, Jack Reed, Andy Kim, Raphael Warnock, Catherine Cortez Masto, Elizabeth Warren, and Van Hollen. On the Republican side, proposals were submitted by Tillis, Mike Rounds, Bill Hagerty, Pete Ricketts, Katie Britt, John Kennedy, Cynthia Lummis, Kevin Cramer, and Tim Scott. The coming days will determine which of the dozens of amendments survive and what the final shape will be of one of the most consequential crypto bills in years.

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