Senate revives crypto market structure efforts as the home prepares for policy votes

• The Senate heads crypto regulations at the July 10 hearing, a draft bill expected this week.
• The house prepares to vote for genius, clarity and anti-CBDC bills after the holidays.
• Trump’s Crypto Policy Report through July 22nd proposes Bitcoin Reserve and Bank Access Rules.

With the House of Representatives temporarily closing its session, the Senate is preparing to lead the next phase of US digital asset regulation. Lawmakers will focus on market structure this week, but the following week there will be a key vote on crypto policy on the house floor.

On July 10, the Senate Banking Committee will hold its first hearing focusing on the market structure of the digital assets sector. The hearing aims to outline a comprehensive regulatory framework for the crypto market, which is currently valued at around $3 trillion, as the committee is working to release a draft proposal later this week.

The draft incorporates part of Lummis-Gillibrand’s Responsible Financial Innovation Act of 2023 and is said to be built on recent provisions introduced in the House Clarity Act. Senate members say the goal is to introduce full market structure laws ahead of the August break.

The Senate Agriculture Committee, which oversees the Commodity Futures Trade Commission (CFTC), is expected to play a parallel role, allowing them to schedule their own hearings on the subject in the coming weeks.

House of Representatives votes for Stablecoin and anti-CBDC bills

As the House reunites, votes are expected on several major crypto bills. These include the genius law, clear conduct, and the CBDC surveillance national law that has been passed by the Senate. According to a Republican House aide, the genius is expected to go to the floor without modification, following a request from President Trump for the “clean” version of the bill.

Some House Financial Services Committee members previously sought a settlement with the House’s own stubcoin proposal, but the current plan, a stable law, suggests that the Genius Bill will continue as it is.

The Anti-CBDC Surveillance National Act, led by House Majority Whip Tom Emmer, will be voted individually. Both bills include languages ​​that limit the development of central banks’ digital currencies.

Crypto tax and executive reports are expected soon

The House Ways and Means Supervisor Subcommittee is also expected to reschedule the initially planned delayed hearing on digital asset taxation this week. Meanwhile, the Trump administration’s working group on digital asset markets is preparing to release its first major crypto policy report by July 22nd.

The document, which stems from the January executive order, is expected to include both regulatory and legislative recommendations. This report may address the National Bitcoin Reserve funding mechanism and propose measures to ensure equal banking access for digital asset companies.