After a monthlong break, the US Senate and House of Representatives are set to return to government business, impacting the crypto and blockchain industry. The Senate committee plans to pass market structure legislation in September. The House will vote on a defense bill containing a provision to ban a central bank digital currency (CBDC).
Republicans aim to pass a bill establishing crypto market structure, building on the Digital Asset Market Clarity Act. Senator Cynthia Lummis predicts the bill will reach President Trump’s desk by the end of the year. The Senate Agriculture and Banking Committees have yet to announce hearings on the bill.
Caroline Pham becomes acting chair of the CFTC following Kristin Johnson’s departure. Brian Quintenz’s confirmation as chair is uncertain, with the Senate Agriculture Committee delaying a vote at the White House’s request. Gemini co-founders pressure Trump to reconsider Quintenz’s nomination due to concerns about enacting the president’s crypto agenda.
The House passed the Anti-CBDC Surveillance State Act, but Republicans seek alternatives. A provision to ban the Federal Reserve from issuing a digital dollar was added to the National Defense Authorization Act. The fate of these bills in Congress remains uncertain, with potential modifications or amendments needed for passage.
Read more at Cointelegraph: What To Expect With US Crypto Policy As Congress Comes Back In Session