On June 24, according to an announcement from the U.S. Senate Banking Committee, Senate Banking Committee Chairman Tim Scott, Digital Assets Subcommittee Chair Cynthia Lummis, Senator Bill Hagerty, and Senator Thom Tillis today released a set of principles for developing comprehensive market structure legislation. These principles will guide Chairman Tim Scott and his colleagues in discussions and negotiations with industry participants, legal and academic experts, and government stakeholders regarding the text of the bill.

The Senate Banking Committee stated: "The Senate Banking Committee is leading a new approach to digital asset regulation and has brought fruitful results for the industry and the American people. We have more work to do and look forward to advancing market structure legislation in the Senate based on the success of the 'GENIUS Act' bill. These principles will serve as an important cornerstone for negotiations on the bill, and we hope to provide the clear guidance that digital asset regulation has long needed, free from political interference."