Senate banking leaders move forward with crypto market structure discussions

First on the fox: Senate banking leaders issued a draft initial discussion Digital assets market structure Legislation that would reshape the cryptocurrency industry when the bill is officially submitted.

This step, led by Senate members of the Republican Party, Tim Scott, Wab-Saouth Carolina, Sinthia Lomes, R-WYOMING, Bill Hajariti, R-TEXAS, and Bernie Moreno, R-OHIO, are a major step in the progress of President Trump’s promise to make America “The planet’s encryption capital.”

“My colleagues and I participate in the House of Representatives and the Senate the same goal: providing clear rules for the road to digital assets that protect investors, enhance innovation, and maintain the future of digital financing in America,” Tim Scott, Chairman of the Senate Committee, told Fost News Digital.

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Scott added: “I am grateful for the hard work that our counterparts in the House of Representatives to develop smart legislation, and I look forward to building their work here in the Senate. Work with President Trump, we can provide a comprehensive regulatory framework from the two parties for digital assets.”

The Senate is now taking the place where the House of Representatives stopped after passing a series of bills related to encryption last week, one of which is the direction and establishment of the national innovation of US Stablecoins (genius), which is what President Donald Trump I signed the law last Friday.

The house also passed the law of clarity of the digital assets market (clarity) in A. 294-134 voting from the two parties. The draft law will serve as a framework for the Senate version, which is likely to be presented shortly after the discussion draft helps in building a full legislative text.

President Donald Trump speaks before the signing of the White House law in Washington, DC, on July 18, 2025. (Alison Robbart / for Washington Post / Geti photos)

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Senate bank leaders also issue a request for information (RFI) for stakeholders and industry leaders to give their inputs on the best way to formulate the bill.

The Senate Banking Committee for the Chair of Digital Assets, Sentea Lomes, was also born in the discussion of the discussion, and Fox News Digital told “the time of organizational uncertainty in the digital assets area has ended.”

“This discussion project represents a deliberate and balanced approach that would provide the clarity that our creators need while providing strong protection for consumers,” explained by Lomes. “The legislation of the market structure will lead to clear discrimination between securities and digital commodities, modernizing our organizational framework, and the United States as a global pioneer in creating digital assets.”

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The Neon brand indicates that Bitcoin is acceptable within the place of the Paralelni Polis project, an organization that combines art, social sciences and modern technology, in Prague, the Czech Republic, on Friday, January 5, 2024. (Milan Jaros / Bloomberg via Getty Images / Getty Images)

The discussion project will open the conversation surrounding the structure of the digital assets market through many major components, such as determining the assets, creating the requirements of detection, and require Securities and Stock Exchange Committee (Second) to issue new rules, update securities regulations, and prevent illegal financing.

The main objectives of the market structure legislation are to create a trading field for digital asset traders, push American innovation in this sector, and to provide consumer protection for trillions in the capitalization of the encryption market.

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Bitcoin currency was the highest level ever at $ 122,838 on Monday, days before the House of Representatives passed the encryption legislation, and a little more than a week before the entry of the discussion project in the Senate.