House and Senate Set to Vote on Key Crypto Legislation Next Week

The House Financial Services Committee plans to markup market structure legislation next week, while the Senate is close to passing its stablecoin bill.

Legislative Updates

Key Points

House markups for the Digital Asset Market Clarity Act are scheduled for Tuesday.
Senate votes on the GENIUS Act may occur as early as Monday.
A bipartisan vote is anticipated for the GENIUS Act, needing 60 votes for cloture.
The House may consider both the market structure and stablecoin bills by the end of next week.
Concerns remain about whether both bills will reach President Trump's desk before the August recess.
There is speculation that the GENIUS Act could be attached to the Clarity Act, though this may face pushback from lawmakers.
Market structure legislation may take longer to finalize, potentially extending through the year.

Background Context

The crypto industry has been awaiting regulatory clarity from Congress. Recent steps suggest progress, with potential advancements next week indicating a pivotal moment for cryptocurrency regulations.

Additional Developments

Trump's media firm filed for a spot bitcoin ETF, which could create new opportunities within the crypto sector.
Circle shares surged on NYSE debut, reflecting strong market interest in stablecoin issuers.
French authorities have arrested 25 individuals linked to crypto-related kidnappings.

This Week’s Agenda

Tuesday

House Financial Services Committee will discuss alignment of stablecoin bills from the House and Senate.

Wednesday

Hearings on the Clarity Act will be held by both the House Financial Services and Agriculture Committees.

Friday

Democrats will hold hearings addressing Trump’s connections to the crypto market alongside the new market structure bill.