On July 7, PANews reported that the U.S. House of Representatives is on recess this week due to schedule adjustments, while the Senate is shifting its focus to the cryptocurrency market structure. The Senate Banking Committee will hold a hearing on Wednesday to discuss establishing a regulatory framework for the $30 trillion digital asset industry and is expected to release a discussion draft for market structure reform this week. This draft will combine relevant content from the 2023 Lummis-Gillibrand Responsible Financial Innovation Act and the House CLARITY Act, aiming to advance the legislative process before the August recess.
Next week, the House will vote on the Senate-passed stablecoin legislation, the GENIUS Act, the CLARITY Act, and the anti-central bank digital currency monitoring bill. Additionally, 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 include establishing a national digital asset reserve and ensuring fair access to banking services for crypto companies.