On Capitol Hill, legislative debate is intensifying on two key cryptocurrency bills.
On Wednesday, the Senate Banking, Housing and Urban Affairs Committee will examine a bipartisan legislative framework for
#digital assets.
March 5, the House Financial Services Committee will hear testimony on Stablecoin and
On Tuesday, White House Director of Artificial Intelligence and
#Cryptocurrencies David Sachs held his first press conference on cryptocurrencies, outlining legislative priorities, the first time the Trump administration will look to regulate the industry. The key steps are a market structure bill and a comprehensive stable coin bill. At the event, which was attended by key House and Senate leaders, Senate Banking Committee Chairman Tim Scott (Republican) announced his intention to bring both key
#cryptocurrency bills to a vote in the Senate before the end of the president's term.
Last year, there was a bipartisan call for a cryptocurrency bill in Congress, but in 2024.
earlier this month, Senator Tim Scott (Republican), chairman of the Senate Banking Committee, tried to fulfill a campaign promise related to the digital asset industry during the 100 days of President Donald Trump's cryptocurrency-friendly administration, and among others involved in pushing for a cryptocurrency bill, promised to pass a bill on the structure of the stablecoin market and regulatory framework.
the Financial Innovation and Technology for the 21st Century Act (FIT21) was passed by the House of Representatives last year. However, as the new Congress begins its work, this market structure bill must be approved again by House members before it moves to the Senate.
Meanwhile, the GENIUS Act, which gives issuers of stable coins, including
#Tether and Circle, a federal path to legalization in the U. S. , is gaining momentum.
CBDCs are similar to stable coins as assets tied to the price of fiat currencies such as the U. S. dollar.
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