Crypto Bill Gets A Boost As US Senator Pulls Card Fees Measure
US Senator Roger Marshall proposed an amendment to a crypto market structure bill that would require large banks to allow at least two unaffiliated networks to process debit and credit card transactions. The measure aims to increase competition and lower swipe fees for merchants, which typically range from 1.5% to 3.5%. While supported by retailers and consumer advocates for potentially reducing costs, banks and card networks warn it could increase fraud risks and implementation expenses. The amendment, which could also affect crypto debit card networks, was temporarily set aside during committee discussions due to concerns about complicating the broader bill. Support and opposition cross party lines, leaving the outcome uncertain.
bitcoinist01/28 00:32
