Jen See what you write it's all what he wants and you worrying and feeling guilty. You'll wreck your marriage over his silly idea.
It's difficult to say at this distance whether this is genuine guilt (like I felt) or an unhealthy pressure to feel guilty, If the latter, I agree with you strongly. If it's the former, well yeah, masturbation can seriously interfere with a relationship and some solution should be discussed.
The trouble with belts is that they do involve a transfer of will power and volition. This should be a red flag for everyone, however, in the right context: (trust, mutual respect etc), this can be a good thing: Not everything we want is good for us.