The post Just In: U.S. Congress to Prioritize Crypto Legislation in 2025, Focusing on Stablecoins and FIT21 Act appeared first on Coinpedia Fintech News
With the incoming pro-crypto administration under Trump, the U.S. Congress is expected to prioritize crypto legislation in 2025, focusing on key issues like stablecoins and the FIT21 Act. Notably, in 2025, several cryptocurrency bills could potentially be passed in the United States –
Financial Innovation and Technology for the 21st Century Act (FIT21):
This bill aims to establish a clearer regulatory framework for digital assets, defining whether they are securities or commodities. The bill has already passed the House and would grant more power to the CFTC for overseeing crypto markets, particularly for digital commodities like Bitcoin. However, the passage of the proposal in the Senate is uncertain, although there is significant bipartisan interest, as highlighted in recent discussions.
Stablecoin Legislation:
Discussions around stablecoin regulation have been ongoing, with bills like the Clarity for Payment Stablecoins Act being considered. There’s a focus on providing regulatory clarity and consumer protections for stablecoins, which could potentially be included in broader financial legislation or passed as standalone bills. This would involve setting criteria for issuers and ensuring stablecoins are backed appropriately.
Digital Asset Market Infrastructure Bill:
This legislation would deal with aspects like custody and the integration of digital assets into traditional financial systems. There’s talk of this bill potentially passing in early 2025, suggesting a push towards infrastructure that supports crypto in financial services.
General Regulatory Clarity:
There’s an overarching push for regulatory clarity in the crypto space, with lawmakers like Rep. French Hill prioritizing digital asset legislation in the new Congress. This could lead to a variety of bills aimed at addressing different aspects of crypto, from taxation to AML/KYC requirements, shaping the regulatory environment for cryptocurrencies.
The political climate, with a pro-crypto bipartisan approach and potential support from the incoming administration, indicates that 2025 might see significant legislative action on cryptocurrency, although the exact scope and nature of these bills will hinge on many factors like political negotiations, regulatory agency input, and public sentiment.
