According to PANews, the U.S. House of Representatives is on recess this week due to a schedule adjustment, while the Senate is shifting its focus to the structure of the cryptocurrency market. The Senate Banking Committee will hold a hearing this Wednesday to discuss establishing a regulatory framework for the $30 trillion digital asset industry, and a discussion draft on market structure is expected to be released this week. The draft combines elements of the 2023 Lummis-Gillibrand Responsible Financial Innovation Act and the House CLARITY Act, aiming to push the legislative process forward before the August recess.
Next week, the House will vote on the stablecoin bill GENIUS Act, the CLARITY Act, and the anti-central bank digital currency monitoring bill passed by the Senate. In addition, the White House Digital Asset Market Working Group is expected to release its first cryptocurrency policy report on July 22, covering regulatory and legislative recommendations, which may involve establishing a national digital asset reserve and ensuring fair access to banking services for cryptocurrency businesses.