Summary
- The U.S. Senate is expected to hold a markup vote on the crypto market structure bill.
- The bill reportedly includes provisions that clarify the allocation of supervisory authority and the regulatory framework.
- If enacted, it is expected to have a major impact on the U.S. crypto asset market.
The U.S. Senate is intensifying discussions on a key bill that governs crypto market structure. It is scheduled to hold a markup vote on the related bill later this month.
On the 8th (local time), The Block reported that the U.S. Senate Banking Committee and the Agriculture Committee each plan to hold markup votes on the crypto market-structure bill. A markup is a key committee-stage procedure to review and amend the bill's detailed provisions.
If the committee votes pass, the bill will go through a reconciliation process within the Senate. Afterwards, it will undergo content negotiations with the Digital Asset Market Structure bill (CLARITY Act), which has already passed the U.S. House.
Once House-Senate reconciliation is completed, the final bill is expected to be sent to the White House for President Donald Trump's signature to become law. The bill clarifies the allocation of supervisory authority and the regulatory framework for crypto assets, and is expected to have a significant impact on the overall U.S. crypto asset market.
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