The US Senator will be considering a new version of the Crypto Market Structure Bill at the end of September, according to someone familiar with the issue he spoke with Blockworks on conditions of anonymity.
The Senate Banking Committee said it is currently focusing on September 30 for the markup hearing of the 2025 Responsible Financial Innovation Act. The bill primarily focuses on clarifying the role of the Securities and Exchange Commission in overseeing the crypto market.
Markup hearings give committee members the opportunity to present amendments to the bill for consideration. The committee may recommend the law to the full Senate.
The Senate Agriculture Committee, which oversees the Commodity Futures Trade Commission, is set to release a bill for the Market Structure Bill in early September, a second familiar with the issue told BlockWorks.
Senate Bank Chair Tim Scott (Rs.C.) – along with Cynthia Ramis (R-Wyo.), Bill Hagerty (R-Ten) and Bernie Moreno (R-Ohio), published a draft of the responsible financial innovation law discussions in July shortly after the US passed a clear act. The senator will release an updated version of the law ahead of the markup hearing.
Lawmakers are currently tasked with turning two laws into one. Ramis at the Wyoming Blockchain Symposium earlier this month said he hopes to have a crypto market structure bill on President Donald Trump’s desk at Thanksgiving.
The Clarity Act passed the House of Representatives with a vote of 294-134. 78 Democrats voted in favor of the measure.
The Responsible Financial Innovation Act is a much-resolved version of the House plan. The latest draft covers 35 pages, while Clarity exceeds 250 pages.
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