{"id":211081,"date":"2025-06-24T18:40:09","date_gmt":"2025-06-24T18:40:09","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/211081\/"},"modified":"2025-06-24T18:40:09","modified_gmt":"2025-06-24T18:40:09","slug":"senate-gop-unveil-framework-for-crypto-market-structure-bill","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/211081\/","title":{"rendered":"Senate GOP Unveil Framework for Crypto Market Structure Bill"},"content":{"rendered":"

Republican senators on Tuesday (June 24) unveiled<\/a> a set of principles to serve as a framework for the development of legislation for digital assets.<\/p>\n

Senate Banking Chairman Tim Scott<\/a>, R-S.C., Subcommittee on Digital Assets Chair Cynthia Lummis<\/a>, R-Wyo., Sen. Thom Tillis<\/a>, R-N.C., and Sen. Bill Hagerty<\/a>, R-Tenn., are spearheading the efforts.<\/p>\n

\u201cThese principles will serve as an important baseline for negotiations on this bill, and I\u2019m hopeful my colleagues will put politics aside and provide long-overdue clarity for digital asset regulation,\u201d Scott said in a statement.\u00a0<\/p>\n

According to the framework, the bill will define when crypto is a commodity or a security, clearly delineate jurisdiction among regulators and lighten the Securities and Exchange Commission\u2019s regulation of digital currencies, among other stipulations.<\/p>\n

The principles also highlight the need for modernized regulations that foster innovation and target illicit finance measures.\u00a0<\/p>\n

The lawmakers also called for federal regulators to take \u201ccommon-sense steps to respond to responsible innovation\u201d and provide \u201cclear guidance affirming that many crypto-related activities are permissible for banks and other financial institutions.\u201d<\/p>\n

Their effort comes as lawmakers seek to build on bipartisan progress made last week, when the Senate passed a bill regulating stablecoins. That measure saw support from nearly all Republicans and 18 Democrats.<\/p>\n

Speaking on the Senate floor after that vote, Lummis said the stablecoin bill is \u201conly the first step,\u201d urging lawmakers to complete work on a more comprehensive market structure bill this year, according to CNBC.<\/p>\n

A House version of the broader market structure legislation advanced through two committees earlier this month \u2014 the Financial Services Committee and the Agriculture Committee.<\/p>\n

Meanwhile, former President Donald Trump weighed in on Truth Social, writing<\/a> that the House should move \u201cLIGHTNING FAST\u201d on the Senate\u2019s stablecoin bill. <\/p>\n

Lummis emphasized the need for the U.S. to keep pace with global efforts. <\/p>\n

\u201cAmerica desperately needs digital asset legislation that promotes responsible innovation and protects consumers,\u201d Lummis said. \u201cWhile the European Union and Singapore have established clear regulations, the U.S. continues to sit on the sidelines while the digital asset industry seeks greener pastures. That changes today.\u201d\u00a0<\/p>\n

Hagerty added: \u201cFor too long, a lack of clear regulatory authority has forced digital asset innovation beyond our borders and subjected issuers, exchanges, and developers to crippling uncertainty. By working towards a reasonable, light-touch market structure framework, we can help bolster our nation\u2019s economy and protect American consumers.\u201d<\/p>\n

Read more<\/strong>: GENIUS Act Rides Stablecoin Momentum as Senate Clears Path for Crypto Regulation<\/a><\/p>\n

Read more<\/strong>: JPMorgan Leads Big Banks Into Deposit Tokens After Senate Vote<\/a><\/p>\n

Read more<\/strong>: Risks Loom as Crypto Collateral Gains Ground in Traditional Lending<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Republican senators on Tuesday (June 24) unveiled a set of principles to serve as a framework for the…\n","protected":false},"author":2,"featured_media":211082,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3091],"tags":[3210,51,2259,32778,31212,84220,84221,44703,10443,2441,12,285,3279,8948,8180,16,15,45577,3281],"class_list":{"0":"post-211081","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-blockchain","9":"tag-business","10":"tag-crypto","11":"tag-crypto-regulation","12":"tag-cryptocurrency","13":"tag-cryptocurrency-regulation","14":"tag-decentralized-finance","15":"tag-digital-assets","16":"tag-digital-transformation","17":"tag-markets","18":"tag-news","19":"tag-politics","20":"tag-pymnts-news","21":"tag-regulations","22":"tag-senate","23":"tag-uk","24":"tag-united-kingdom","25":"tag-web3","26":"tag-whats-hot"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114739807878681180","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/211081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=211081"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/211081\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/211082"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=211081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=211081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=211081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}