Senate Panel Releases Bill Allowing Some Stablecoin Rewards (1)

Many digital-asset companies would continue to be able to offer rewards to customers who hold stablecoins under a new proposal tied to hotly-anticipated crypto market structure legislation.

The Senate Banking Committee released a bipartisan so-called manager’s amendment late Monday ahead of a markup meeting planned for Thursday.

The proposal includes language that would appear to prohibit crypto exchanges from offering rewards tied to stablecoin holdings. But the bill also highlights some activities that would be exempt from that restriction, including certain rewards associated with membership in a loyalty or incentive program. That language will likely be welcomed by groups ...