The U.S. Congress is making waves in the crypto world with a reset timeline for crucial legislation. If you’re invested in the future of digital assets, this update is a game-changer. Here’s what’s happening behind the scenes in Washington.
Why Is the U.S. Congress Pushing Crypto Legislation Now?
According to Crypto in America host Eleanor Terrett, both the Senate and White House are moving forward – but on separate tracks. The Senate GOP has committed to a new deadline for market structure legislation, while stablecoin rules are also progressing. This comes after delays from earlier timelines set by the Trump administration.
Market Structure Legislation Gets September Deadline
Senate Banking Chairman Tim Scott (R-SC) made a significant announcement:
- Market structure legislation should be completed by end of September
- This represents a delay from the original August deadline
- The Senate is prioritizing comprehensive framework for crypto markets
What About the GENIUS Act and Stablecoin Rules?
While the Senate works on market structure, other key developments include:
| Legislation | Status | Expected Action |
|---|---|---|
| GENIUS Act | House vote timing unclear | Trump expected to sign next month |
| Stablecoin rules | White House working separately | Could come before market structure |
What This Means for Crypto Investors
These legislative moves could bring:
- Clearer rules for crypto exchanges and trading
- Better protections for stablecoin users
- Potential for more institutional investment
- Possible tax implications
The coming months will be critical for crypto regulation in America. With Congress finally moving forward, we may see the foundation for crypto’s future take shape before year’s end.
Frequently Asked Questions
When will the Senate complete market structure legislation?
Senate Banking Chairman Tim Scott has set a new deadline of end-September for completing market structure legislation.
What is the status of the GENIUS Act?
The House hasn’t announced when it will vote on the GENIUS Act, but President Trump is expected to sign it next month if passed.
Are stablecoin rules being handled separately?
Yes, the White House is working on stablecoin legislation separately from the Senate’s market structure efforts.
Why was the original August deadline delayed?
The article doesn’t specify reasons, but legislative processes often take longer than initial estimates due to negotiations and revisions.
How will this affect cryptocurrency prices?
While impossible to predict, clearer regulations could reduce uncertainty and potentially attract more institutional investors to crypto markets.
