After a month’s break, the US Senate and House of Representative are set to return to conducting a government business, which includes basic policies affecting the cryptocurrency and blockchain industry.
Both of the US Congress’s 119th session continued in the recent weeks ago as part of their schedule established in January. The transfer effectively silences any task toward the passage of a bill to establish the structure of the digital asset, consider the appointment of Brian Quintenz to be the chairman of the Commodity Futures Trading Commission (CFTC), and law containing a provision for the restriction of a central digital currency (CBDC).
The US Senate Committee looking to pass the market structure in September
One of the first items of legislation on the Republican agenda on their return was to pass a bill that establishes the crypto market structure outside a committee and for a floor vote.
In July, Republicans in the Chamber passed the Digital Asset Market Clarity (CLARITY) Act with the support of 78 Democrats, Moving a bill to the Senate For further amendments and debates. Wyoming Senator Cynthia Lummis, one of the most unspecified voices in Congress who advises for less restriction and clearer crypto regulations, has become one of the leading Republicans calling for the market structure.
At an August’s blockchain conference, Lummis MAKA -MAKAHA is already the Senate banking committee It will pass its version of the Building Structure Building to The Clarity Act at the end of September, following a consideration of the Senate Agriculture Committee in October. The Wyoming Senator foretold the bill would end at the desk of President Donald Trump’s President before the end of the year. “
At the time of publication, either the Senate Agriculture Committee or Senate Banking Committee did not announce the hearings to consider the bill.
Looking for a new CFTC seat
Beginning Wednesday, Caroline Pham, a Republican, will be the same commissioner, and acting chairman of the CFTC removal of Kristin Johnson, a member of the Democratic. Johnson announced in May that he planned to resign before 2026, and Pham Says He will move “to the private sector” if the Senate is to confirm Quintenz.
Even with the upcoming removal of Johnson and the CFTC running without many of the leadership positions, Quintenz’s confirmation did not appear to be a guarantee at the time of publication. Before the Senate continued, the Agricultural Committee Delayed a vote In the nomination of the prospective chair at the request of the White House.
Related: Crypto advocacy groups doubled Quintenz’s confirmation on CFTC in the middle of pushing
Gemini co-founders Cameron and Tyler Winklevoss, both supporters and Donors of Trump, reported that the president was forced To re -consider Quintenz’s nomination. Although both brothers first supported the nomination after Trump announced it in February, they later claimed that he could not fully perform the President’s crypto agenda.
https://www.youtube.com/watch?v=ly-sjGrakrs
Like Monday, the Senate banking committee is set to consider five of Trump’s nominations on Wednesday, but the Senate Agriculture Committee has not set a time for Quintenz.
Home to vote on Defense Bill containing CBDC ban
The house managed to pass The Anti-CBDC Surveillance State Act in July with the slimmest of democratic support. However, it appears that the Republicans are looking for successors to the bill, which is sent to the Senate to consider.
In August, the House Rules Committee shared a revision In HR 3838, a bill that implements the National Defense Authorization Act. The revised law includes a provision to inhibit the Federal Reserve from the release of a digital dollar-one of the tenets of the Anti-CBDC Surveillance State Act.
It is unclear which bill, if any, will have enough support to pass Congress without amendments or changes.
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