U.S. Crypto Bill Faces Over 100 Amendments Before Key Senate Decision

The Senate crypto bill faces over 100 amendments on legal tender, tax payments, Fed master accounts, and market rules.

U.S. Crypto Bill Faces Over 100 Amendments Before Key Senate Decision as Senate Banking Committee members prepare for a markup vote on H.R. 3633, the CLARITY Act.

The large amendment list shows sharp debate over crypto rules, legal tender status, tax payments, and Federal Reserve access for digital asset firms.

Senate Panel Reviews Wide Amendment List

The U.S. Senate Banking Committee has received more than 100 amendments to the crypto market structure bill. The measure is tied to H.R. 3633, known as the CLARITY Act.

According to Politico, lawmakers filed the amendments before a key committee markup vote. The vote is expected to shape the next stage of debate over U.S. crypto regulation.

The bill seeks to set clearer rules for digital asset markets. It also addresses oversight roles for federal agencies.

The large number of amendments shows that senators remain divided. Some lawmakers want broader crypto access, while others seek tighter controls.

Crypto journalist Eleanor Terrett reported that Senator Elizabeth Warren submitted more than 40 amendments.

Her proposals focus on banking access, consumer safeguards, and crypto market oversight.

Reed Amendment Targets Crypto Legal Tender Use

Senator Jack Reed proposed an amendment that would bar crypto assets from legal tender use. The measure would include a ban on using crypto to pay taxes.

The amendment states that crypto should not be used as legal tender. It also gives tax payments as an example of a prohibited use.

This proposal comes as some lawmakers support wider Bitcoin use in public finance.

Representative Warren Davidson previously introduced a bill linked to tax payments using Bitcoin.

That proposal sought to allow federal tax payments through Bitcoin. Reed’s amendment takes the opposite position and would block such use.

The legal tender debate is central to the broader crypto bill. It raises questions about how digital assets should interact with government payment systems.

Supporters of limits argue that tax systems should rely on official currency. Supporters of broader crypto use say digital assets can improve payment options.

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Warren Amendments Focus on Fed Access

Senator Elizabeth Warren submitted more than 40 amendments to the bill, according to Terrett. One proposal would restrict Federal Reserve master accounts for crypto companies.

A Federal Reserve master account gives firms direct access to central bank payment services. Crypto firms have sought this access in recent years.

Warren’s amendment would stop the Fed from granting such accounts to crypto companies. The proposal reflects concerns about risk in digital asset banking.

The issue has drawn attention since some crypto firms sought banking access through state charters. Federal regulators have reviewed such requests with caution.

The amendment would also affect how crypto companies connect with payment rails. It could limit their ability to operate like traditional financial firms.

The Senate Banking Committee’s markup will decide which amendments move forward. The outcome may shape the final text of the crypto market structure bill.

The CLARITY Act remains a major focus for the crypto industry and federal regulators. The debate now turns on market rules, bank access, tax use, and legal tender limits.

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