U.S. Senate Banking Committee Delays Crypto Market Structure Bill Over Stablecoin Yield Clash

The U.S. Senate Banking Committee has postponed a vote on a cryptocurrency market structure bill after lobbying escalated over yield-bearing stablecoins and their impact on banks. Coinbase's 3.5% stablecoin yield and concerns from the American Bankers Association, alongside a U.S. Treasury estimate of a potential $6.6 trillion deposit drain, have intensified the policy debate. Bitcoin's market cap, price and recent performance were also highlighted against the backdrop of these regulatory tensions.