The committees of agriculture and financial services of the Chamber sent a major bipartite message after having advanced the American bill on the structure of the cryptography market on Tuesday, marking the first of several developments expected in the legislation on the assets of the progress of digital assets this week.
The Chamber’s Financial Services Committee explained some of the end details of a marathon hearing on Tuesday on the bill to set up the surveillance of the digital asset market before voting to move it 32-19, even though the Agriculture Committee voted to advance bill 47-6. At the same time, the Senate legislation to regulate stablecoin issuers was launched to a final vote.
This year’s efforts to finally define the American scene for the crypto trade, known as Digital Asset Market Clarity Act, were at the center of the increases – special hearings in which the Congress panels consider the amendments and put a final polishing on the legislation before moving it towards the bottom of the chamber. In this case, two committees in the room envisaged the Clarity Act at the same time on Tuesday, and the panel of agriculture ended first.
“The Clarity Act provides certainty on digital assets to market players, fills regulatory gaps at the Commodity Futures Trading Commission and the Securities and Exchange Commission, strengthens American innovation and provides the necessary protections to customers to activities and intermediaries related to digital assets,” said the audience of its agriculture committee.
The panel classification democrat, Angie Craig, noted that “it is not a perfect bill”, but also said that the tens of millions of Americans using cryptocurrency “will continue to develop, whether the congress acts or not, but if we do not act, it will increase without consumer protections.”
The House bill describes the jurisdictional borders between the two regulators of the American markets and establishes a new leading role for the CFTC on the trade of digital products, which represents most of the cryptographic activity. Because the two Congress committees supervise each of the different elements of the cryptography market – raw materials and titles – each has an element of the relevant jurisdiction, so that the work of panels to modify the legislation must be merged.
Congress employees said that the successful increased increases in each committee would then be combined in a “unified committee report” which will be examined by the chamber in the broad sense.
The legislation has been continuously revised until the increases, the Republicans hoping to keep enough democrats on board for bipartite support to influence how the Senate adopts the bill if it adopts the Chamber. But the Democrats of the Chamber’s Financial Services Committee were still meeting to examine the points of the bill with which they also receive themselves recently on Monday.
Representative David Scott, one of the Democrats who sits on both committees, expressed the dissatisfaction of some in his party. “The bill allows cryptographic companies to circumvent appropriate surveillance and ignore investors’ protections, because I have described it several times and in the finance committee,” he said, arguing that the bill does not properly finance the regulator of the goods. “The CFTC, although essential, is not designed to supervise retail -facing investment products.”
Scott added: “It is a gift to the worst players in this industry.”
Others remain concerned about the fact that legislation does not directly block senior government officials – notably President Donald Trump – to benefit personally from cryptographic commercial interests.
Maxine Waters, the main Democrat of the Chamber’s Financial Services Committee, raised similar concerns when she introduced an amendment to the HUD Transparency Act of 2025 on Tuesday which would lead its Inspector General to investigate a suggestion that the Ministry of Housing and Urban Development could assess the crypto or stables for payments.
“Unfortunately, Trump and his administration are trying to force the crypto in the throat of people living in Hud assisted accommodation,” she said. “For my part, I would like to know if Hud uses Trump’s stablecoin, how they choose the ecupon and what costs are paid in the president’s pocket.”
During Tuesday marking, the Democrats of the Financial Services Committee offered dozens of changes to do everything, from Block Trump to take advantage of or engage in cryptographic companies to set the requirements for the minimum number of commissioners, the titles commission and the exchanges of the Committee of Future Golds must have before entering any rule. These modifications have all failed according to the party parties.
Genius
While the Chamber is advancing on the Clarity Act, the Senate approaches a potential final vote this week on the guidance and the establishment of national innovation for the stablescoins of 2025 “(Genius) Act, which would erect the guards for the issue of American stablescoins, the tokens based on a dollar which underlie a wide range of trading crypto.
The head of the majority, John Thune, the best Republican in the Senate who recently joined efforts to advance the legislation on the stablescoin, made a procedural decision on Monday to go to a final vote soon. The initiates of the industry are preparing for a vote on Wednesday.
Jaret SEIBERG, a policies analyst at TD COWEN, said in a note to customers that Thune’s decision meant a “limit of what the modifications can be taken into account before a final vote on the package”, in particular to make it difficult to implement the donors of the legislation on the credit card not linked to using the bill on the stable as lever to force their own effort. It was one of the last potential obstacles to the advancement of the Senate on the bill, which has already produced strong Bipartisian votes when it crossed the process of this Congress Chamber.
The sponsor of the legislation, Senator Bill Hagerty, had clearly indicated that the bill is confronted with a very tight adoption window this year, taking into account what is on the plate of the Senate. The law on engineering appeared on the agenda of the Senate for Tuesday, with a deadline for modification of 2:30 p.m.
If the Engineering Act adopts the Senate, it will head to the House, where a bill similar to stables is already waiting, after having released its committee obstacles. At this stage, legislators will have to decide their strategy on how to proceed, whether to include stable matter alongside the market on the market structure as a single package, if the Chamber can simply take up the Senate bill as it is written or if the Chamber will seek to chop its own version.
Update (June 11, 2025, 04:00 UTC): Add the vote of the Committee of Financial Services.
