After passing the GENIUS stablecoin bill, Republican leadership on the Senate Banking Committee has turned its sights to digital asset market structure.
US Senator Tim Scott, chair of the Senate Banking Committee, said the chamber would be aiming to pass legislation for digital asset market structure “before the end of September.”
In a Thursday “fireside chat” with Wyoming Senator Cynthia Lummis and White House crypto adviser Bo Hines, Scott said “for the market to function completely,” Congress would need to move forward with legislation for market structure and stablecoins. The senator set a goal of passing a market structure bill by Sept. 30.
“You’re the chairman, and we will do as you wish,” said Lummis in response to Scott’s goal for market structure. “We will make sure that we’re ready to do that.”
