That tension matters because of the math. To pass the full Senate, this bill needs at least seven Democratic votes. Without bipartisan changes especially around ethics, it doesn’t move. Meanwhile, a separate fight has been quietly intensifying: stablecoin yield. The Senate Banking draft includes Section 404, which would ban crypto platforms from offering yield or interest on stablecoins they custody. This closes a loophole left open by the GENIUS Act (2025), which regulated stablecoin issuance, but not third-party yields.

That tension matters because of the math.

To pass the full Senate, this bill needs at least seven Democratic votes. Without bipartisan changes especially around ethics, it doesn’t move.

Meanwhile, a separate fight has been quietly intensifying: stablecoin yield.

The Senate Banking draft includes Section 404, which would ban crypto platforms from offering yield or interest on stablecoins they custody.

This closes a loophole left open by the GENIUS Act (2025), which regulated stablecoin issuance, but not third-party yields.

— Cryptopolitan (@CPOfficialtx) Jan 30, 2026