Chairman Tim Scott scheduled the executive session for May 14 to resolve a years-long regulatory deadlock in Washington.
This legislation defines whether specific tokens function as securities or commodities, providing much-needed legal certainty for American firms.
A key provision prohibits customer rewards on idle stablecoin holdings to protect traditional bank deposit structures.
Senators Thom Tillis and Angela Alsobrooks brokered this compromise to balance innovation with financial stability concerns.
Banking lobbyists still fight the bill, fearing a massive flight of deposits toward unregulated digital platforms.
Conversely, crypto exchanges argue that banning interest payments would stifle fair market competition across the growing sector.
Industry leaders urge a swift vote before the upcoming midterm elections shift the current balance of power.
The Senate must approve the measure by year-end to reach President Trump’s desk for a final signature.
