Major Crypto Bill on Track? Senator Aims for Market Structure Legislation by Sept 30!

Good news for the crypto industry! A key U.S. Senator, Tim Scott (R-SC), Chair of the Senate Banking Committee, has reportedly told the White House that a crucial crypto market structure bill is on track to be completed by September 30th.

This comes on the heels of the Senate passing the "GENIUS Act," a landmark stablecoin bill. The focus now shifts to broader market structure legislation, which aims to provide much-needed clarity on how digital assets are classified (as securities or commodities) and which regulatory bodies (SEC or CFTC) will oversee them.

While there are still hurdles and different timelines being discussed, this commitment from a prominent senator signals strong momentum for comprehensive crypto regulation in the U.S. A clear regulatory framework could be a game-changer, fostering innovation, attracting investment, and providing greater protection for consumers in the digital asset space.

The industry will be watching closely as September approaches to see if this ambitious deadline can be met!

#crypto #Regulation #USSenate #MarketStructure #DigitalAssets