Jackson Hole, Wyo.
“I believe we will have between 12 and 18 democrats at least open to voting for market structure,” Scott told stage at the Salt Conference at Jackson Hole, Wyoming on Tuesday.
“The forces against it, just let me say clearly, like Sen. Elizabeth Warren, who stands in the way of Democrats who want to participate, it is a real force to overcome,” he said.
As Congress passed – and the United States President Donald Trump – the Genius Act, which covers Stablecoins, is the law of the market structure that the industry really expects. Regardless of the market structure law will eventually become law will dictate how security and exchange commission (Sec) and Commodity Futures Trading Commission (CFTC) will guard digital assets in the US, including crypto spot markets.
The law is expected to be finalized before the end of September, Scott told former White House advisor Bo Hines.
The Senate Banking Committee introduced a Bill Draft Bill in July putting on how the Securities and Exchange Commission (Sec) Digital assets should be guarded after the house voted to advance its clarity on Sunday. The Senate Agriculture Committee, who also needs to support this law, has not yet published any draft of the discussion.
Both bills will need input from the democratic party as at least 60 votes are required for the bill to advance to the Senate. Moreover, the Chamber and Senate will have to vote on the same bill or restore differences between their fees. The drafts of the Senate Banking Committee’s discussion have been different from the House cleanliness law.
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