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Senator Lummis Predicts Completion of U.S. Crypto Regulations by Year-End

A draft for a new crypto market structure bill is expected before the Senate's August recess, with revisions planned for September.

Summary

Senator Cynthia Lummis announced that a draft for a new crypto market structure bill is anticipated to be published before the Senate's August recess. Discussions and revisions are scheduled for September, as she continues to advocate for bipartisan support in advancing crypto regulations this year.

Terms & Concepts
  • GENIUS Act: The Guiding and Establishing National Innovation for U.S. Stablecoins Act, aimed at regulating stablecoins in the U.S.
  • stablecoin: A type of cryptocurrency designed to maintain a stable value by pegging it to a reserve asset, such as the U.S. dollar.
  • bipartisan: Involving or supported by members of two political parties.