Senate Crypto Bill Faces 100+ Amendments as JPMorgan Files Tokenized Fund and Japan Plans Yen Stablecoin
Crypto Senate Crypto Bill Faces 100+ Amendments as JPMorgan Files Tokenized Fund and Japan Plans Yen Stablecoin The US Senate Banking Committee is heading into a pivotal Thursday markup with more than 100 amendments filed against the chambers crypto market structure bill, a leaked roster shows. Democratic senators have proposed dozens of revisions while Republicans pursue narrower tweaks, with stablecoin yield, software developer protections, and ethics provisions dominating the debate. Senator Chris Van Hollen is pushing a measure to bar the president, vice president, lawmakers, and their families from owning or promoting crypto assets, while Jack Reed and Tina Smith want a stricter “substantially similar” test on yield restrictions, signaling that consensus on the House-passed CLARITY framework remains elusive. JPMorgan has filed with the SEC to launch the OnChain Liquidity-Token Money Market Fund, ticker JLTXX, on Ethereum, giving stablecoin issuers a regulated vehicle to park reserves while earning interest on US Treasury bills and overnight repos. The fund carries a 0.16% annual fee, requires a $1 million minimum, and is structured to comply with the GENIUS Act passed in July. Managed by JPMorgan‘s Kinexys Digital Assets unit, JLTXX follows the December launch of the MONY fund and arrives as more than $32.2 billion