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U.S. Senators Submit Over 40 Stablecoin Amendments, Proposing Crypto Ban as Legal Tender

GateNews

Regulation & Policy

2026-05-13 01:49:46

According to crypto journalist Eleanor Terrett, U.S. Senators Jack Reed and Elizabeth Warren submitted amendments to stablecoin legislation on Thursday. Reed’s proposal explicitly prohibits cryptocurrencies from being used as legal tender, including bans on paying taxes with crypto assets. Warren’s package of over 40 amendments includes a measure to prevent the Federal Reserve from issuing master accounts to cryptocurrency firms.

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