The US Senate is scheduled to consider a new bill that regulates cryptocurrency markets at the end of September.
According to information provided by sources familiar with the issue, the Senate Banking Committee aims to hold a markup hearing on September 30 for a bill entitled “Responsible Financial Innovation Act 2025.”
The bill is specifically aimed at clarifying the role of the Securities and Exchange Commission (SEC) in the crypto market. The markup session gives committee members the opportunity to propose amendments to the bill. The committee may decide to submit the law to the full Senate.
Meanwhile, the Senate Agriculture Committee, which oversees the Commodity Futures Trade Commission (CFTC), is scheduled to release its own draft market structure in early September.
Senate Banking Committee Chairman Tim Scott, Cynthia Ramis, Bill Hagerty and Bernie Moreno released a draft of the responsible financial innovation law discussions in July. This step comes shortly after the House passes the clear act. The senator will announce the updated bill prior to the markup session.
The two separate bills must be combined into a single bill during the legislative process. Speaking at the Wyoming Blockchain Symposium this month, Ramis said he aims to win the Crypto Market Structure Bill on President Donald Trump’s desk at Thanksgiving.
The Clarity Act passed the House by a vote of 294-134, with 78 Democrats backing it. The bill is over 250 pages long, but the current Senate bill is 35 pages long, providing a simpler structure.
*This is not investment advice.
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