“The Market Structure Bill Got An Overhaul in Two House Committees at the Same Time of the Senate’s Stablecoin Bill is Steaming Town a Finish.”, – WRITE: www.coindesk.com
A Second Congressional Panel, The House Financial Services Committee, Was Also Hashing Out Some of the Final Details on Tuesday on the Bill to Set Up Digital Assets Market Legislation to regulate stablecoin isssuers was rolling Toward a final vote.
This Year’s Effort to Finally Set The US Stage for Crypto Trading, Known As The Digital Asset Market Clarity Act, Was The Focus of Markups – Special Hearings in Which. Polish on Legislation Before Advanceing It To The Chamber Floor. In this Case, Two House Committees Were Considering the Clarity Act at the Same Time on Tuesday, and the Agriculture Panel Finished First.
“The Clarity Act Provides Certainty on Digital Assets to Market Participants, Fills Regulatory Gaps at the Commodity Futures Trading Commission and The Securities and Exchange Commission, Bolster Customer Protections to Digital Asset Related Activities and Intermediarians, “Said the Agriculture Panel’s Chairman, Glenn” Thompson, As He Opened His Committee.
The Panel’s Ranking Democrat, Representative Angie Craig, Noted That “This Is Not A Perfect Bill,” But Also Said The Tens of Millions Not, but if we don’t act, it will grow with the consumer Protections that Retail Investory Need and Desert, Protections Like Those That Govern Other Corners of The American Fincan.
The House Bill Outlines the Jurisdictional Borders Between the Two Us Markets Regulators and Establishes A New Leading Role for the CFTC Over the Trading of Digital Commodities, Which Represents. Because the Two Congressionional Committees Each Oversees Different Elements of the Crypto Market – Commodities and Securities – Each Has A Piece of the Relevant Jurisdice, so. have to be melded.
Congressional Staffers SAID THAT The PRODUCTS OF SUCCESSFUL MARKUPS FROM EACH COMMITTEE Wuld Then Be Combined Into A Unified “Committee Report” To Be Conceder BY the Wider House.
The legislation have been continulaly overhauled right up to the Markups, with Republicans Hoping to keep’s The House. But Democrats in the House Financial Services Committee Were Still Meeting to Examine Points of the Bill atye Concern with As Recently As Late Monday.
Representative David Scott, One of the Democrats Who Serves on Both Committees, Expressed The Discontent of Some In His Party. “The Bill ALLOWS CRYPTO FIRMS TO BYPASS PROPER OVERSIGHT AND IGNORE INVESTOR PROTESTS, AS I HAVE OUTLINED ON MULTIPLE OCCASIONS HERE AND INTANCE COMMITTEE,” HEA. Properly Fund The Commodities Regulator. “The CFTC, Thought Essential, Is Not Designed to Oversee Retail-Facing Investment Products.”
Scott Added, “This is a Gift to the Worst Actors in this Industry.”
Other remain concerned that legislation dosn’t Directly Block Senior Government Officials – MOST NOTABLY President Donald Trump – From Personally Benenefiting from Crypto Business Business.
Maxine Waters, The Top Democrat on the House Financial Services Committee, Raized Similar Concerns Whten Shentroduceted An Anendment Tuesday to the Hud Transparency Act of 2025 Inspector-General to Investigate A Suggression that the Department of Housing and Urban Development Might Evalue Crypto or Stablecoins for Payments.
“Unfortunately, Trump and His Adminstruction Are Trying to Force Crypto Down The Throats of People Living in Hud-Assisted Housing,” She Said. “I for One Wuld Want to Know If Hud Is Using Trump’s Stablecoin, How They Choose The Stablecoin and What Fees Are Being Paid Into The President’s Pocket.”
Genius ActWhile the House Moves Forward on the Clarity Act, The Senate Is Nearing a Potential Final Vote this Week on the Guing and Establishing National Innovation for Us Stablecoins of 2025 Guardrails for the Issuance of Us Stablecoins, The Dollar-Basted Tokens That Underpin A Wide Swath of Crypto Trading.
Majority Leader John Thune, The Senate’s Top Republican Who have been the effort to push for the Stablecoin Legislation, Made a Procedural Move on Modaya Toon Toon. Industry Insiders Are Preparing for a vote as Soon as Wednesday.
Jaret Seiberg, A Policy Analyst at TD Cowen, Said in A Note to Clients That Thone’s Move Meant a “Limit What Amendments Can Be Considered Before A FinLuda On the Package,” In Package of the unrelated Credit-Card Legislation to USE The Stablecoin Bill As Leverage to Force Consideration of Their Own Effort. That was one of the Final Potential Roadblocks to Senate Advancement on the Bill, Which Has Already Draadi Drawn Strong Bipartisan Votes as It Moved Through The Process in that Chamber of CONGES.
The Legislation’s Sponsor, Senator Bill Hagerty, Had Made It Clear That Bill Faces A Very Tight Window For Adopt this Year, Considering What Else Is On the Senate’s Plate. The Genius Act Was on the Senate’s Floor Agenda for Tuesday, with A 2:30 PM Anendment Deadline.
If the genius Act passes the Senate, It’ll Head to the House, WHERE A SIMILAR STABLECOIN Bill Already Awaits, HAVING CLEARED ITS COMMITTEE HURDLES. At that point, lawmakers will have to decide their strategy on how to proceed, WHERE TO INCLUDE THE STABLECOIN MATTER ALONGSIDE the Market Structure Bill AS AS ASHER PACKAGE Senate’s Bill As Written or Wheether The House Will Seek to Hash Out It Own Version.
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