"US Senate Aims to Pass Digital Asset Market Structure Bill by End of September"

The US Senate Banking Committee has announced its intention to process a market structure bill for the digital asset market by September 30 in order to secure regulatory clarity.

On the 27th (local time), the digital asset (cryptocurrency) specialty media outlet The Economist reported, "Senate Banking Committee Chairman Tim Scott has set a deadline of September 30 to pass the Digital Asset Market Structure Bill to present a clearer regulatory framework for cryptocurrencies."

The bill was originally scheduled for passage in early August, but the timeline was delayed to the end of September due to postponed coordination among stakeholders.

At a panel session held on this day, Chairman Scott emphasized, "It is essential to clarify whether digital assets qualify as securities and under which regulatory agency's jurisdiction they fall." Cynthia Lummis, a US Senator, and Bo Hines, a cryptocurrency advisor at the White House, also attended the session.

The media also stated, "This bill is similar to the 'Digital Asset Market Clarity Act (Clarity Act)' introduced on the 10th by the House of Representatives," but noted "however, ongoing differences between the Senate and the House regarding stablecoin regulation continue to present variables for the legislative process."

Meanwhile, Eleanor Terrett, host of CryptoAmerica, reported, "It appears that the Senate Republican leadership and the White House have adjusted their legislative strategy to handle the Digital Asset Market Structure Bill and the stablecoin bill separately."