A major compliance platform's leadership has pushed back on the latest Senate Banking Committee draft, citing multiple dealbreakers for the crypto industry. The core friction points? Overly restrictive DeFi regulations that could stifle innovation, potential weakening of regulatory clarity around derivatives oversight, growing privacy concerns embedded in the proposal, and particularly contentious restrictions on stablecoin rewards mechanisms. The stance underscores growing tension between industry players and lawmakers as they hash out how to properly govern digital assets while protecting consumer interests. This positioning likely signals further debate ahead as the legislative process moves forward.