Key cryptocurrency legislation is under discussion in the US Congress. A vote is anticipated to occur as soon as this week.
Proposed Legislation
House Republicans are considering a legislative package that includes stablecoin regulations and the cryptocurrency market structure bill, known as the CLARITY Act.
Voting Status
According to Punchbowl News, Majority Whip Tom Emmer stated that House Republicans would vote on the stablecoin bill (the GENIUS Act) if it is combined with market structure reforms. However, details on how these bills will be merged remain unclear.
Impact on the Crypto Industry
The legislation previously advanced by committees aims to change the regulatory structure overseeing the cryptocurrency industry. The timeline for a potential vote remains uncertain and could be postponed.
The situation surrounding the cryptocurrency bill remains dynamic, creating uncertainty for market participants.
