Senate Banking Chair reports major progress on landmark crypto legislation
Senate Banking Committee Chair Tim Scott has confirmed that “real progress” is being made toward passing a massive cryptocurrency bill into law, following a meeting with bank executives on Thursday.
The U.S. Senate is advancing comprehensive legislation to govern cryptocurrency law, as well as other pieces of legislation, to clarify regulatory oversight and address gaps in current regulations, including the GENIUS Act.
Rapid developments in the field of digital assets, particularly stablecoins and decentralized finance (DeFi) tokens, have put investors at risk, and lawmakers are determining which cryptocurrencies fall under the jurisdiction of the SEC versus the CFTC.
The Senate is making progress on a major crypto bill
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