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The US Senate continues with crypto: The first meeting is this week...
Last week, the Senate, which passed Trump's "Great Beautiful Law" amid great controversy, has once again turned its attention to crypto. The Senate, which approved the GENIUS Act prepared to regulate stable coins in June and sent it to the House of Representatives, will officially initiate the process for the "Crypto Markets Structure Act" this time.
The first official meeting to discuss the regulatory framework for the 3 trillion dollar crypto industry will start on Wednesday at the Senate Banking Committee.
What will be discussed?
Firstly, the draft related to the law will be presented at this meeting, and the senators will identify and discuss the points that need to be changed. It is also stated that the draft includes provisions from the "Responsible Financial Innovation Act" prepared by Cynthia Lummis and Kirsten Gillibrand in 2023. It is mentioned that the Clarity Act, which distinguishes between securities and commodities, also adds certain features/provisions to this bill. All these details will become clear with this meeting.
Will it make it in time for the August holiday?
The aim here is portrayed as ensuring the swift progress of the bill, such as the Genius Act, and getting the law to Trump's desk before Congress's August recess. Trump had previously expressed several times that he expected these bills to be approved "as soon as possible" and to reach his desk before the recess.
Crypto week will also begin in the Parliament
Next week, there will also be a crypto week in the House of Representatives. The GENIUS Act, CLARITY Act, and Anti-CBDC Act will be presented for votes in the assembly. The House of Representatives will be in recess this week.
The Cryptocurrency Market Structure Bill is of great importance in terms of showing whether a cryptocurrency will be regulated by the SEC or the CFTC. The aim is to establish clear and guiding laws and regulations on this matter.
In addition to cryptocurrencies, the law, which is of great importance for regulating the exchanges where these assets are traded, will also introduce rules such as reserve requirements.
Published: July 7, 2025 15:21 Last Updated: July 7, 2025 15:26