While Crypto Crypto-Crypto Crypto legislation is progressing at the American Congress, legislators assess the introduction of a bill on the structure of the digital asset market in the Senate in the coming weeks, which could add “another layer of complexity” to the uncertain legislation of digital assets surrounding in the United States.
US Senate to introduce the bill on the structure of the crypto market
The Banque Committee of the US Senate will hold a sub-comity audience next week on a potential reform of the cryptography market. The hearing, named “exploration of bipartite legislative executives for the structure of the digital asset market”, is scheduled for Tuesday, June 24 and will be led by senator Cynthia Lummis.
Eleanor Terret, journalist and animator of Podcast, reported that the legislators were working on the principles of the Senate version of a bill on the cryptographic market structure, which will be at the center of the future hearing.
Subcommittee hearing scheduled for June 24. Source: Senate Banking Committee
Terret shared that the Republican senator Tim Scott recently said to him: “He hopes to hold a complete audience of the committee in next month”, which would probably follow the publication of a discussion project.
The news follows the uncertainty surrounding the version of the House of Representatives of the legislation on the structure of the cryptographic market. A Tuesday report by Unchained says that the objective of American president Donald Trump to adopt the bill on the structure of the market by the recess of August is “serious danger”.
According to the report, a spokesperson for Senator Scott, who is chairman of the senatorial banking committee, said in an e-mail that a marking session for Digital Asset Market (Clarity) Act of 2025 will only occur in the fall, despite the senator’s plan to hold a hearing session on the legislation in July.
In particular, the bill adopted the increases in the financial service committees of the Chamber and the Chamber’s agriculture committees last week with bipartite support, switching to the full voting of the Chamber.
However, negotiations on the language used in the bill would have struck a wall, because Bipartisian legislators proposed a standard language to respond to the concerns of Democrats concerning the conflicts of potential interests by the president, the vice-president, the members of the Congress and their families, which the White House would have rejected.
Terret noted that the introduction of the version of the Senate of the bill would add another layer of complexity, because two distinct legislative texts would move in four different committees in the congress.
Stable legislation could face challenges
Meanwhile, the Senate adopted the law of guide and establishment of national innovation of the Stablescoins (engineering) law during a vote of 68-30 Tuesday afternoon. The bill, now directed in the House, should also face a certain uncertainty in the lower chamber of the Congress.
The bill, presented by the Republican senator Bill Hagerty in February, aims to develop a framework for the stablecoins to fall under the rules of the federal reserve, establishing a regulatory framework “sure and pro-growth” to advance innovation.
According to Terret, the bill is confronted with several challenges, in particular by having to reconcile with the version of the bill of the bill, the stable law and having leaders of the chamber “pushing to pack the framework of Stablecoin with a version of the Clarity Act”, because it could allegedly improve the chances that the two bills erase the Congress before the date of August.
Speaking from the file, a legislator of the Chamber declared to Terret that the advancement of the two bills is a priority, because the success of the law on engineering without the bill on the structure of the market could slow down the broader cryptography legislation.
“I just don’t buy the idea that the passage of one takes momentum for the other,” said the Congress member. However, legislators remain optimistic about the chances that the two cryptographic bills adopt in the coming months.
Bitcoin (BTC) trades at $104,419 in the one-week chart. Source: BTCUSDT on TradingView
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