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U.S. Crypto Legislation Enters a Critical Stage, Market Structure and Stablecoin Bills Face August Deadline
On May 26, according to Crypto In America, the legislative process in the U.S. Congress regarding crypto market structure and stablecoin regulation has entered a sprint phase. French Hill, Chairman of the House Financial Services Committee, announced that a second full hearing will be held on June 4, with plans for bill review on June 10. The legislative deadline set by President Trump for August 4 is less than 70 days away, but there is skepticism in the industry about whether the market structure bill can pass in time.

Meanwhile, the SEC’s crypto task force has held 104 meetings with the industry, continuously pushing for regulatory pathway exploration and communicating with projects like Ripple regarding regulatory clarity and a “safe harbor” mechanism. In terms of stablecoin legislation, the GENIUS bill may be sent to the House for presidential signature after passing the Senate, potentially being implemented before the market structure bill.

This week, Congress is in recess, and some pro-crypto lawmakers and officials will attend the Bitcoin conference in Las Vegas. The conference will feature speakers including Vice President J.D. Vance, Senators Lummis and Hagerty, Michael Saylor, and members of the Trump family, among others. #稳定币法案 $BTC

On-chain data shows that today at 20:59 (UTC+8), multiple Bitcoin trust addresses under Grayscale transferred approximately 820.1 BTC to Coinbase Prime, totaling about $94.85 million at the time of the transaction. The largest single transfer was 619.9 BTC (approximately $68.07 million). $BTC $ETH $SOL

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