Senate bank leaders advance discussion of crypto market structure
Economist Steve Moore praises President Donald Trump for signing the law on the “final results.”
First on FOX: Senate banking leaders released their first discussion draft Digital Asset Market Structure A law that will restructure the cryptocurrency industry when the bill is officially introduced.
Leading by GOP Senators Tim Scott, R-South Carolina, Cynthia Ramis, R-Wyoming, Bill Hagerty, R-Texas and R-Ohio’s Bernie Moreno, the move is a major step in moving forward with President Trump’s campaign promise to make America America. “The planetary code capital.”
“My colleagues in the House and Senate are sharing the same goals: provide clear rules for the pathway of digital assets that protect investors, promote innovation and maintain a fixed future of digital finance in America.”
Sen. Tim Scott, a Republican from South Carolina and chairman of the Senate Bank, Housing and Urban Affairs Committee, during a confirmation hearing in Washington, D.C. on Thursday, February 27, 2025. (Al Drago/Bloomberg via Getty Images)
GOP Senator “I’m proud” President Trump’s cryptocurrency bill
“We appreciate the hard work our counterparts in our home to create smart, bipartisan laws and look forward to building on their work in the Senate.
The Senate is being picked up from where the House left off last week after the House passed a series of code-related bills. President Donald Trump It signed the law last Friday.
The House has also passed the Digital Asset Market Clarity Act. 294-134 Bipartisan Voting. The bill serves as a framework for the Senate version that is likely to be introduced soon as the discussion draft helps build a complete legislative text.
President Donald Trump will speak before signing the Genius Act at the White House in Washington, DC on July 18, 2025. (Alison Robert/Washington Post/Getty Image)
Senate bank leaders are issuing Requests for Information (RFIs) by stakeholders and industry leaders to give their opinions on how to best create bills.
The Senate Banking Subcommittee of Digital Assets, Cynthia Lummis, also focused on the discussion draft, told Fox News Digital that “a period of regulatory uncertainty in the digital asset space is over.”
“This discussion draft represents a thoughtful and balanced approach that provides solid consumer protection while providing clarity that innovators need,” explained Lummis. “The market structure law clearly distinguishes between digital asset securities and products, modernizes regulatory frameworks, and positions the United States as a global leader in digital asset innovation.”
The Treasury Department revealed a $27 billion surplus in June
Neon signs show that Bitcoin is being accepted within the venue of the Parallelnipolis Project, an organization that combines art, social sciences and modern technology in Prague, Czech Republic, on Friday, January 5, 2024. (Milan Jaros/Bloomberg via Getty Images)
Discussion drafts help to open conversations surrounding the digital asset market structure through several key components, including defining sub-assets and creating disclosure requirements. Securities and Trade Commission (SEC) Promulgate new rules, modernize securities regulations and prevent illegal funds.
The main goal of the market structure legislation is to establish a uniform playing field for digital asset traders, promote US innovation in the sector, and provide consumer protection of trillions of crypto market capitalization.
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Bitcoin hits The best ever Last Monday, a few days before the House passed the Cryptocurrency Act, a week before the introduction of the Senate discussions, it was $122,838.