Senate Stablecoin Bill Faces Delays Amid Ongoing Negotiations
House Republicans released a draft of a market structure bill, while Senate efforts for stablecoin legislation faced challenges.
Key Developments
- Stablecoin and market structure bills are expected to reach President Trump's desk this year.
- The stablecoin legislation, the GENIUS Act, was anticipated to pass easily but has encountered delays.
- A failed Senate vote raised concerns over national security and financial system accountability.
- Negotiations are ongoing, with a potential new vote on the GENIUS Act as soon as next week.
- Democrats are seeking amendments related to crypto corruption ahead of future votes.
- Recent discussions focus on how foreign issuers are treated and anti-money laundering provisions.
- Delays in stablecoin legislation may affect the timeline for the market structure bill.
Additional News
- U.S. Crypto Market Structure Bill Unveiled by House Lawmakers
- New Hampshire Approves Crypto Reserve Law
- SEC and Ripple Seek Approval for $50M Settlement
- Senator Warren Calls for Blocking Big Tech Stablecoins Amid Meta's Plans
This Week's Schedule
- Tuesday: Joint hearing on digital asset market structure canceled.
- Thursday: Celsius CEO sentenced to 12 years for fraud.