JACKSON HOLE, WY — US Sen. Cynthia Lumith (R-Wyo.) said the final draft of the Crypto Market Structure Act will be presented to President Donald Trump before Thanksgiving.
“We’ll put it on the president’s desk before Thanksgiving,” Ramis said during a conversation at the Salt Conference held in Jackson Hole, Wyoming on Wednesday. She previously said she expected the law to go into effect by the end of 2025.
The Senate Banking Committee is expected to pass the bill by the end of September and project the Senate Agriculture Committee, which said it will oversee the Commodity Futures Trade Commission (CFTC) by the end of October before it is handed over to President Trump.
“We have a market structure by the end of the year,” Ramis said.
Sen. Tim Scott, chairman of the Senate Banking Committee, said Tuesday that he is expected to be able to vote in favor of the Senate’s answer to the House’s digital asset market clarity.
Given that the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) define how markets are overseeing, the bill is one of the most important legislation as far as the crypto industry is concerned.
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