Four Republican senators, led by Banking Committee Chairman Tim Scott, introduced a 35-page draft bill to establish a regulatory framework for digital assets. The proposal defines ‘ancillary assets’ to exclude certain cryptocurrencies from SEC securities rules and directs the SEC and CFTC to coordinate oversight. Mirroring provisions of the House-passed CLARITY Act, the bill aims to provide regulatory clarity while fostering U.S. leadership in fintech. However, its Senate prospects remain uncertain amid Democratic concerns over consumer protections. Stakeholders are invited to submit feedback on the draft, which includes enhanced disclosure rules and anti-illegal finance measures.
about Senate Proposes New Crypto Regulatory FrameworkBill Hagerty
0 posts last weekUS Senators Propose New Crypto Regulation Bill for 2025
US Senators Tim Scott, Cynthia Lummis, Bill Hagerty, and Bernie Moreno have unveiled the draft ‘Responsible Financial Innovation Act of 2025,’ building on the recently passed CLARITY Act. The bill aims to strengthen market structure, enhance regulatory clarity, and combat illicit finance in the crypto sector. Key proposals include clear definitions for ancillary assets, tailored disclosure requirements, and exemptions for small-scale token sales under $75 million. The legislation also encourages banking innovation with digital assets and calls for SEC modernization. Public feedback is being sought through a Request for Information covering over 35 topics.
about US Senators Propose New Crypto Regulation Bill for 2025Senate GOP Outlines Crypto Market Structure Principles
The Senate Banking Committee, led by Republicans including Tim Scott (R-SC) and Cynthia Lummis (R-WY), released principles to guide crypto market legislation, focusing on regulatory clarity, innovation, and consumer safeguards. The principles aim to define digital asset status, streamline oversight, and implement targeted anti-money laundering measures. This follows momentum around the Digital Asset Market Clarity Act, which shifts oversight from the SEC to the CFTC. Meanwhile, Democrats like Sen. Adam Schiff (D-Calif.) introduced the COIN Act to prevent presidential crypto profiteering, contrasting with Trump-backed legislation. The debate unfolds as federal agencies, including the FHFA, explore crypto’s role in financial systems.
about Senate GOP Outlines Crypto Market Structure PrinciplesSenate Pushes Crypto Market Framework for Clear Regulations
The Senate Banking Committee released a regulatory framework for digital assets, aiming to clarify distinctions between securities and commodities while avoiding the creation of a new crypto-specific agency. Key proposals include updated registration paths for compliant issuers, self-custody protections, and tailored exemptions for tokenized projects. Witnesses, including industry leaders and former regulators, stressed the urgency of clear rules to prevent fraud and maintain U.S. competitiveness. The framework also advocates for inter-agency coordination, anti-money laundering measures, and consumer safeguards like asset segregation. Lawmakers now face the task of drafting legislation, with jurisdiction split between the SEC and CFTC. The move follows bipartisan momentum, as seen in recent votes, but challenges remain in balancing innovation with oversight.
about Senate Pushes Crypto Market Framework for Clear RegulationsUS Senate Subcommittee Hears Digital Asset Market Structure Bill
The US Senate Banking Committee’s subcommittee on digital assets convened a hearing to explore bipartisan legislative frameworks for digital asset market structure, but attendance was notably low, with only five out of 11 senators present. Subcommittee Chair Cynthia Lummis suggested conflicting schedules may have contributed to the absences. Witnesses included former CFTC Chair Rostin Behnam, Coinbase’s Ryan VanGrack, Multicoin Capital’s Greg Xethalis, and Wharton’s Sarah Hammer, who fielded questions on regulatory approaches. The hearing highlighted ongoing legislative efforts to define crypto market rules amid industry growth and regulatory uncertainty.
about US Senate Subcommittee Hears Digital Asset Market Structure BillStablecoin Supply Hits $250B as US Advances GENIUS Act
The stablecoin market has achieved a record-breaking $250 billion in total supply, driven by the dominance of Tether’s USDT and Circle’s USDC, which collectively account for 86% of the market. Yield-bearing stablecoins like Ethena are also growing rapidly, with over $120 billion in US Treasuries now backing stablecoins. The market’s recovery follows past disruptions, including Terra’s collapse and the USDC de-peg crisis. Recent growth is fueled by institutional interest, spot crypto ETFs, and favorable political sentiment under the Trump administration. Concurrently, the GENIUS Act, aimed at solidifying US leadership in digital assets, has passed the Senate but faces criticism over potential conflicts of interest. The bill’s fate now rests with the House.
about Stablecoin Supply Hits $250B as US Advances GENIUS ActUS Senate Passes GENIUS Act to Regulate Stablecoins
The US Senate approved the GENIUS Act on June 17 with a bipartisan 68-30 vote, marking a significant step toward stablecoin regulation. The bill, introduced by Senator Bill Hagerty, sets rules for issuers, enforces Anti-Money Laundering measures, and mandates 1:1 backing of stablecoins with reserves like US dollars or short-term Treasury securities. However, critics warn that the legislation may overlook stability risks in Treasury markets. The bill now moves to the House, where it must be reconciled with the competing STABLE Act. The crypto industry views this as a pivotal moment for regulatory clarity, but uncertainties remain about its broader financial implications.
about US Senate Passes GENIUS Act to Regulate StablecoinsUS Senate Passes GENIUS Act, Boosting Crypto Leadership
The US Senate voted 68-30 to pass the GENIUS Act, a landmark bill setting the framework for stablecoin regulation in the United States. Despite Democratic calls for amendments addressing Donald Trump’s connections to World Liberty Financial’s stablecoin, the bill advanced unchanged. Senator Bill Hagerty championed the legislation, claiming it will enable near-instant payments and solidify US crypto leadership. The companion STABLE Act may now move to the House, where further amendments could be proposed. The GENIUS Act represents a significant milestone in establishing federal oversight for the rapidly growing stablecoin sector.
about US Senate Passes GENIUS Act, Boosting Crypto LeadershipStablecoins Could Cut US Debt, GENIUS Act Vote Today
Treasury Secretary Scott Bessent highlighted the potential of stablecoins to lower federal borrowing costs and curb debt growth if the GENIUS Act passes. The bill, up for a Senate vote today, mandates strict reserve rules—requiring stablecoin issuers to back tokens with high-quality assets like Treasury bills. Bessent called this a ‘win-win-win’ for issuers, the Treasury, and consumers, as it could boost demand for US debt securities. The GENIUS Act also imposes federal charters for large issuers, enforces anti-money laundering checks, and grants the CFTC limited oversight. If passed, the bill could accelerate the stablecoin market’s expansion while reinforcing the dollar’s global dominance in digital payments.
about Stablecoins Could Cut US Debt, GENIUS Act Vote TodayAmazon, Walmart Eye Stablecoin Launch to Cut Fees
Amazon and Walmart are reportedly exploring the launch of proprietary stablecoins to streamline payments and reduce credit card processing fees, according to a Wall Street Journal report. These USD-pegged digital assets could save billions by bypassing traditional payment networks, offering instant transfers for suppliers and customers. The move aligns with the GENIUS Act, a bipartisan bill creating a regulatory framework for stablecoins, which recently advanced in the Senate. While corporate stablecoins promise efficiency gains, they must overcome public skepticism post-TerraUSD collapse and ensure regulatory compliance. Success could trigger a crypto bull run and reshape retail finance under evolving U.S. crypto policies.
about Amazon, Walmart Eye Stablecoin Launch to Cut FeesWalmart & Amazon Eye $14B Savings with Stablecoins
Walmart and Amazon are preparing to launch their own stablecoins, backed by U.S. dollars or Treasuries, as the Senate moves closer to passing the GENIUS Act (S.394), which would establish a federal regulatory framework for such digital currencies. The retailers aim to reduce card processing fees, which cost them an estimated $14 billion annually, with potential savings of $1 billion in EBITDA gains for a 1% reduction. The GENIUS Act, sponsored by Sen. Bill Hagerty (R-TN), mandates 100% reserve backing, monthly disclosures, and consumer protections, with bipartisan support. The bill avoids algorithmic assets and focuses solely on payment functionality, marking a shift from previous failed attempts like Meta’s Diem. A Senate vote on June 17 will determine the fate of the legislation, which could pave the way for widespread adoption of retailer-issued stablecoins in e-commerce and supply chains.
about Walmart & Amazon Eye $14B Savings with StablecoinsSenate Advances GENIUS Act for Stablecoin Regulation
The Senate voted 68-30 to invoke cloture on the GENIUS Act, paving the way for a final vote on stablecoin regulation. The bill, which requires stablecoins to be backed 1:1 by high-quality assets and imposes strict reserve and disclosure rules, saw bipartisan support after the Hagerty amendment eased objections. The amendment removed a proposed ban on in-kind redemptions and clarified supervisory roles for non-bank issuers. If passed, the bill could streamline federal oversight of stablecoins, with smaller issuers allowed under state regimes meeting federal standards. The crypto industry has praised the progress, urging continued momentum for clear federal rules.
about Senate Advances GENIUS Act for Stablecoin Regulation