The Senate aims to redefine crypto regulation by shifting oversight from the SEC to the CFTC and clarifying asset classifications.
Bipartisan momentum grows as lawmakers push for rapid progress on crypto legislation following the Senate’s stablecoin bill success.
Legislative gaps between the House and Senate highlight the complexity of aligning stablecoin and market structure reforms this year.
The Senate Banking Committee is preparing to release core principles for its upcoming crypto market structure bill. Eleanor Terrett reports that the BankingGOP may unveil the overview either today or tomorrow. This move comes just ahead of a subcommittee hearing scheduled for June 24. The principles aim to offer a baseline for negotiations and legislative development, showing the urgency for digital asset regulation.
This effort is being led by Senators Cynthia Lummis and Tim Scott. They are developing a framework that will specify whether a digital asset is classified as a commodity or a security. Additionally, the measure suggests permitting cryptocurrency exchanges to make Commodity Futures Trading Commission (CFTC) registrations. This would give the CFTC more authority over crypto regulation and lessen the Securities and Exchange Commission's (SEC) role.
Momentum Builds After Stablecoin Bill Progress
The Senate recently passed a bipartisan stablecoin bill, showing rare alignment among lawmakers. Eighteen Democrats joined nearly all Republicans in support. After the vote, Senator Lummis emphasized that the stablecoin legislation is only the beginning. She called for quick movement on the more complex market structure bill, urging Congress to act before the year ends.
Additionally, Plans for a full committee hearing next month were confirmed by Senator Scott. He was hopeful that future agreements will maintain the nonpartisan spirit. He emphasized that lawmakers must put aside their differences and create long-overdue regulatory certainty.
House and Senate Diverge on Stablecoin Approach
Meanwhile, the House already approved its version of the market structure legislation. It passed through the Financial Services and Agriculture Committees. These two bodies oversee the SEC and CFTC, respectively. However, differences in the stablecoin approach could slow down unified progress.
President Donald Trump urged the House to act “LIGHTNING FAST” on the Senate’s stablecoin bill. Despite this, House Financial Services Chairman French Hill suggested a joint movement for both stablecoin and market structure bills. However, he avoided confirming whether the House would consider the Senate’s version.
Consequently, momentum is building across both chambers. The Senate’s principles release and the scheduled hearings mark a critical step toward comprehensive crypto regulation. Moreover, bipartisan collaboration is emerging as the driving force behind digital asset reform.
The post Senate Prepares Framework for Crypto Market Structure Bill appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
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Senate Prepares Framework for Crypto Market Structure Bill
The Senate aims to redefine crypto regulation by shifting oversight from the SEC to the CFTC and clarifying asset classifications.
Bipartisan momentum grows as lawmakers push for rapid progress on crypto legislation following the Senate’s stablecoin bill success.
Legislative gaps between the House and Senate highlight the complexity of aligning stablecoin and market structure reforms this year.
The Senate Banking Committee is preparing to release core principles for its upcoming crypto market structure bill. Eleanor Terrett reports that the BankingGOP may unveil the overview either today or tomorrow. This move comes just ahead of a subcommittee hearing scheduled for June 24. The principles aim to offer a baseline for negotiations and legislative development, showing the urgency for digital asset regulation.
This effort is being led by Senators Cynthia Lummis and Tim Scott. They are developing a framework that will specify whether a digital asset is classified as a commodity or a security. Additionally, the measure suggests permitting cryptocurrency exchanges to make Commodity Futures Trading Commission (CFTC) registrations. This would give the CFTC more authority over crypto regulation and lessen the Securities and Exchange Commission's (SEC) role.
Momentum Builds After Stablecoin Bill Progress
The Senate recently passed a bipartisan stablecoin bill, showing rare alignment among lawmakers. Eighteen Democrats joined nearly all Republicans in support. After the vote, Senator Lummis emphasized that the stablecoin legislation is only the beginning. She called for quick movement on the more complex market structure bill, urging Congress to act before the year ends.
Additionally, Plans for a full committee hearing next month were confirmed by Senator Scott. He was hopeful that future agreements will maintain the nonpartisan spirit. He emphasized that lawmakers must put aside their differences and create long-overdue regulatory certainty.
House and Senate Diverge on Stablecoin Approach
Meanwhile, the House already approved its version of the market structure legislation. It passed through the Financial Services and Agriculture Committees. These two bodies oversee the SEC and CFTC, respectively. However, differences in the stablecoin approach could slow down unified progress.
President Donald Trump urged the House to act “LIGHTNING FAST” on the Senate’s stablecoin bill. Despite this, House Financial Services Chairman French Hill suggested a joint movement for both stablecoin and market structure bills. However, he avoided confirming whether the House would consider the Senate’s version.
Consequently, momentum is building across both chambers. The Senate’s principles release and the scheduled hearings mark a critical step toward comprehensive crypto regulation. Moreover, bipartisan collaboration is emerging as the driving force behind digital asset reform.
The post Senate Prepares Framework for Crypto Market Structure Bill appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.