Why are banks fighting stablecoin yield and why does it matter for Bitcoin? Zack Shapiro, Ken Egan, and Zack Cohen, break down the political battle unfolding in the U.S. Senate and why Coinbase’s opposition could derail market structure reform in the latest Senate bill. From developer protections to self-custody rights, this episode explores what’s at stake for the future of Bitcoin in the United States.

🔶 Connect with Zack Shapiro on X: https://x.com/zackbshapiro

🔶 Connect with Zack Cohen on X: https://x.com/zackcohen_

🔶 Connect with Ken Egan on X: https://x.com/Bayman11771

🔶 Learn more about the Bitcoin Policy Institute: https://www.btcpolicy.org/

Chapters:

00:00 – Why U.S. Payments Lag Behind the World

05:05 – What the Market Structure Bill Is Trying to Do

10:10 – Stablecoin Yield and Coinbase’s Breaking Point

15:20 – Banking Lobby Power and Protectionism

20:15 – Developer Protections and Self-Custody Explained

25:00 – Why No Bill Could Be Worse Than a Bad Bill

30:00 – DOJ, Samurai Wallet, and the Strategic Bitcoin Reserve

35:30 – De Minimis Tax Exemptions and Network Fees

40:45 – Market Structure vs Crypto Tax Legislation

46:30 – Iran, Geopolitics, and Bitcoin’s Policy Role

51:30 – What Happens Next for U.S. Bitcoin Regulation