### US Congress Divided on Cryptocurrency Regulation The US Congress is facing a growing divide over how to regulate the burgeoning cryptocurrency market. As reported by Bloomberg, key Senate committees are actively discussing draft legislation, but significant disagreements are emerging between Republicans and Democrats. Republicans are advocating for a "relaxed approach," emphasizing innovation and investor protection through clear, but less restrictive, standards. Senator Tim Scott believes this is essential to foster responsible development within the crypto space. Conversely, Democrats are voicing concerns about potential loopholes and conflicts of interest within the proposed legislation. Senator Raphael Warnock highlighted that the bill might not adequately address potential conflicts, raising questions about market fairness and integrity. ### Senate and House Reviews of Crypto Bills The Senate Banking Committee is working diligently to prepare legislation related to cryptocurrency market structure, aiming for completion by September 30th. Concurrently, the House of Representatives is set to review its own distinct bill next week, setting the stage for a potentially lengthy and complex legislative process. This division signals a challenging path forward for establishing comprehensive crypto regulation in the US. ```