According to PANews, the U.S. Congress is intensifying its efforts to legislate on the structure of the cryptocurrency market and the regulation of stablecoins. French Hill, Chairman of the House Financial Services Committee, announced a second full hearing scheduled for June 4, with a bill review planned for June 10. With less than 70 days remaining until the August 4 legislative deadline set by U.S. President Donald Trump, there is skepticism within the industry about the timely passage of the market structure bill.
Meanwhile, the SEC's crypto task force has conducted 104 meetings with industry stakeholders to explore regulatory pathways and has engaged with projects like Ripple on regulatory clarity and the "safe harbor" mechanism. In terms of stablecoin legislation, the GENIUS Act may be sent to the House after Senate approval and then to the President for signing, potentially preceding the market structure bill.
This week, Congress is in recess, and some pro-crypto lawmakers and officials are attending the Bitcoin conference in Las Vegas. The event will feature speeches from Vice President J.D. Vance, Senators Lummis and Hagerty, Michael Saylor, and members of the Trump family.
