According to White House Crypto Czar David Sacks, the US is set to make significant progress in crypto reform this summer. Key developments are expected in July, August, and September, with lawmakers working to finalize rules and define regulatory boundaries for digital assets.
The Senate is preparing a comprehensive framework for digital asset market structure, with a bill introduction planned before the August recess. The legislative timeline includes:
- Bill introduction: Before August recess
- Markup: First week of September
- Finalization: End of September
Two key bills are driving this progress:
1. The GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins), which establishes rules for stablecoin issuance and regulation.
2. The CLARITY Act (Digital Asset Market Clarity), which defines regulatory boundaries between the SEC and CFTC, promoting transparency, accountability, and investor protection.
These developments aim to provide clarity and legitimacy to the crypto market, potentially boosting innovation and investor confidence.
