The U.S. Congress is set to introduce a bill regulating the status of digital assets and stablecoins, led by Senators Tim Scott and Cynthia Lummis.
Introduction of the Bill
According to recent updates, the legislative team, led by Senators Tim Scott and Cynthia Lummis, is preparing to introduce the bill before Congress adjourns for its August recess. Formal review is expected to begin in early September, with final touches completed by the end of that month.
Support from the Trump Administration
David Sacks, President Trump’s advisor on AI and crypto policy, expressed his support for the timeline and emphasized the importance of clear crypto regulations. He noted that the Trump administration is particularly supportive of stablecoin innovation.
Potential Market Impact
If enacted, this legislation could serve as the cornerstone for how digital assets are defined and regulated in the U.S., clarifying whether specific tokens fall under the jurisdiction of the SEC or the CFTC.
The renewed momentum in Washington signals that crypto is now firmly on the national policy agenda. If the legislation passes on schedule, the U.S. could take a leading role in shaping the future of global digital finance.
