A naukri.com initiative
Bitcoinist
8h
339
Image Credit: Bitcoinist
US Lawmakers Working On Senate’s Version Of Crypto Market Structure Bill
- US lawmakers are evaluating introducing a digital assets market structure bill in the Senate, adding complexity to the uncertain digital assets legislation in the US.
- The US Senate Banking Committee will hold a subcommittee hearing next week on potential crypto market reform.
- The hearing, titled 'Exploring Bipartisan Legislative Frameworks for Digital Asset Market Structure,' will be led by Senator Cynthia Lummis.
- Lawmakers are working on principles for the Senate's version of a crypto market structure bill.
- Republican Senator Tim Scott mentioned plans for a full committee hearing soon, likely following the release of a discussion draft.
- The Senate's version will add complexity as two separate legislative texts will move through different Congressional committees.
- The House of Representatives' version of the crypto market structure legislation faces uncertainty, potentially delaying President Trump's goal of passing it before August recess.
- The Senate passed the GENIUS Act concerning stablecoins, now heading to the House, with expected challenges in Congress.
- The GENIUS Act aims to regulate stablecoins under Federal Reserve Rules for a safe and growth-oriented framework.
- House leaders may seek to combine the stablecoin framework with the CLARITY Act for improved chances of Congressional approval.
- Lawmakers prioritize advancing both bills, suggesting passing one bill may not necessarily build momentum for the other.
- Despite challenges, there is optimism about both crypto bills passing in the coming months.
Read Full Article
20 Likes
For uninterrupted reading, download the app