Top lawmakers on the Senate Agriculture Committee have secured a bipartisan agreement on draft crypto legislation today.
We scooped the agreement this afternoon. Chair John Boozman (R-Ark.) and Sen. Cory Booker (D-N.J.) released the draft shortly after, which runs 155 pages. Read it here.
This market structure legislation is far from finished. The Senate Banking Committee is responsible for roughly half this push covering the Securities and Exchange Commission. And this draft has “unresolved” sections in anti-money laundering controls and decentralized finance. We’ll have more in the AM edition.
Meanwhile in payments. Credit card giants Mastercard and Visa announced a new settlement today with retailers that could introduce big changes in interchange business practices after more than two decades of litigation.
But the merchant lobby is already opposed. Advocates are calling for the deal to be rejected and for Congress to take up the Credit Card Competition Act once and for all.
