The House’s Agricultural Committee sent a major Bipartisan message with a 47-6 promotion of the US crypto-market structure on Tuesday, marking the first of several expected developments in the promotion of digital assets expected this week.
Another Congress Panel, House Financial Services Committee, was also on some of the final details on Tuesday on the bill to create a market for digital assets, and at the same time, Senate’s legislation to regulate stablecoin issuers rolled against a final vote.
This year’s efforts to finally set the US scene for crypto trading, known as Digital Asset Market Clarity Act, were the focus of markings – special hearings in which Congresses are considering changes and put a final polishing on legislation before putting it forward to the chamber floor. In this case, two house committees considered the Law Act at the same time on Tuesday, and the agricultural panel ended first.
“The Clarity Act provides security for digital assets to market participants, filling legislative gaps at the Commodity Futures Trading Commission and Securities and Exchange Commission, Bolsters American Innovation and brings the need for customer protection to digital asset -related activities and intermediaries,” said the agricultural panel’s chairman, Glenn ” Consultation.
The panel’s ranking Democrat, Representative Angie Craig, noted that “this is not a perfect bill,” but also said that the tens of thousands of millions of Americans who use cryptocurrency “will continue to grow, whether Congress acts or not, but if we do not act, it will grow without consumer protection protection, as retail investors, as a retailer and deserves, controls other corners of the US economic system. ”
The house Bill outlines the jurisdiction boundaries between the two US markets regulators and establishes a new leading role for CFTC over trade in digital ingredients representing the majority of crypto activity. Because the two congress committees each oversight of different elements of the crypto market – raw materials and securities – each has a piece of the relevant jurisdiction, so the panels’ work to change the legislation must be melted.
Congress staff said that the products of successful markings from each committee would then be combined into a unified “committee report” to be considered by the wider house.
The legislation has been constantly revised right up to the markings, with Republicans hoping to keep enough Democrats aboard the fact that a top species support can influence how much the Senate embraces the bill if it passes parliament. But Democrats in the House Financial Services Committee still met to investigate the bills they are concerned about as late as late Monday.
Representative David Scott, one of the Democrats earning in both committees, expressed dissatisfaction with some in his party. “The bill allows crypto companies to bypass proper supervision and ignore investor protection, which I have outlined on several occasions here and in the Financial Committee,” he said, arguing that the bill does not properly finance the raw material regulator. “CFTC, though important, is not designed to oversee retail investment products.”
Scott added, “This is a gift for the worst actors in this industry.”
Others are still concerned that legislation does not directly block senior officials – especially President Donald Trump – from personally benefiting from crypto business interests.
Maxine Waters, the top Democrat of House Financial Services Committee, raised similar concerns when she introduced an amendment to the HUD Transparency Act from 2025 on Tuesday, which would refer her inspector general to investigate a proposal that the Department of Housing and Urban Development may evaluate Krypto or StableCoins for payments.
“Unfortunately, Trump and his administration are trying to force crypto down the throat of people living in skin-assisted homes,” she said. “I would like to know if skin uses Trump’s stableecoin, how they choose stableecoin and what fees paid in the president’s pocket.”
Genius Act
While Parliament is moving on to the Clarity Act, the Senate is approaching a potential final vote this week on the guidance and establishment of the National Innovation for US StableCecoins from the 2025 “(Genius) Act that would construct protective rails for issuing US stableecoins, dollar-based tokens teaching a broad fraud of crypto-trade.
Majority leader John Thune, the Senate’s top republican, who recently joined the efforts to push for stablecoin legislation, made a procedural step Monday to move on to a final vote soon. Industrial insiders are preparing for voting as soon as Wednesday.
Jaret Seiberg, a political analyst at TD Cowen, said in a note to clients that Thune’s steps meant a “restriction, what changes can be considered before a final vote on the package”, including making it difficult for the backers of non-related credit card legislation to use the stablecoin bill as gearing to force their own efforts. It was one of the final potential roadblocks for the Senate’s progress on the bill, which has already drawn strong Bipartisan voices as it moved through the process in this chamber of Congress.
Legislative sponsor, Senator Bill Hagty, had made it clear that the bill is facing a very tight window for adoption this year, given what is otherwise on the Senate record. Genius Act was on the Senate floor agenda for Tuesday with a deadline from 1 p.m. 14:30.
If the Genius Act adopts the Senate, it goes to Parliament, where a similar stableecoin bill is already waiting, after clearing its committees’ obstacles. At that time, legislators will have to decide their strategy for how to move forward, whether to include the StableCoin case, together with the market structure proposal as a single package, whether parliament can just take the Senate’s bill as written, or whether parliament will seek to hash out its own version.
