BlockBeats News, May 13th - Crypto reporter Eleanor Terrett revealed that US Senator Jack Reed submitted an amendment this Thursday ahead of the stablecoin bill's deliberation, aiming to explicitly ban cryptocurrency from being used as legal tender, including prohibiting the payment of taxes in crypto assets.

Senator Elizabeth Warren also submitted over 40 amendments, with one specifically targeting preventing the Federal Reserve from granting master accounts to cryptocurrency companies. Another amendment jointly submitted by Senators Reed and Smith seeks to include restrictions on stablecoin yields by banks in the bill.