🔥 Key Takeaways
- Sen. Roger Marshall filed an amendment to remove a card fee provision from a crypto market structure bill.
- The amendment aims to promote competition among companies on swipe fees.
- This could impact payment processors and crypto businesses relying on card transactions.
- The move signals ongoing regulatory scrutiny in crypto payment infrastructure.
Sen. Marshall Seeks to Remove Card Fee Provision in Crypto Bill
Senator Roger Marshall (R-KS) has filed an amendment to a proposed cryptocurrency market structure bill that would eliminate a provision related to card transaction fees, according to recent reports. The amendment, submitted last week, would require companies to compete on swipe fees rather than allowing fixed or standardized rates.
Implications for Crypto Payments
If passed, this amendment could significantly alter the economics of crypto purchases made via debit or credit cards. Many crypto exchanges and platforms rely on card payments for fiat-to-crypto transactions, often passing swipe fees (typically 1-3%) to consumers. A more competitive fee structure might lower costs for end-users but could also squeeze margins for payment processors.
Broader Regulatory Context
This development comes amid increasing regulatory attention on crypto payment rails. The original bill sought to provide clearer rules for digital asset markets, but Marshall’s amendment suggests lawmakers remain divided on how to handle payment-related aspects of crypto transactions. The debate mirrors longstanding controversies in traditional finance about interchange fees.
Industry observers will be watching closely to see if this amendment gains traction, as it could set precedents for how crypto transactions are treated under payment regulations moving forward.
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