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Washington, DC-American senator Tim Scott, chairman of the Banking Committee of the Senate, said on Thursday crypto White House advisor that the legislation sets rules for the US crypto markets within September 30-turn before President Donald Trump, but earlier than at the end of the year by one of the leading lawyers.
Trump Crypto Boh Hines said on Thursday that the new term is possible for legislation, and expressed an agreement with Trump that the US House of Representatives should also sign on Stablecoin Bill The Senate Senate passed last week.
Scott whose committee recently shared some instructions For how some higher Republicans want the market regulation to look, he said he intends to “see the market structure completed by the end of September. I think these are realistic expectations”.
Senator Cynthia Lummis, who leads the subcommittee of digital assets, focused on this work, said, “Yes, sir. You are chairman and we will do what you want.”
Meanwhile, the highest lawmakers of the house hesitated to announce their own strategy for two related accounts on the structure of the market and stablecoins. The house was in the leadership of the previous edition, with its law on the clarity of the digital market market cleaned the necessary committees on the way to the floor of the house. However, a representative French hill, chairman of the Committee on Financial Services, refuses to reveal whether the house will move to the Senate leadership and the introduction of national innovation for us Stablecoins for us (Genius) Act.
Hill this week signaled to think some problems you need to work out Between the Genius law and its own legislation Stablecoin of the Chamber of Deputies, which would indicate a more time consuming process that could endanger the short -term terms that the Senate meant.
Senator Lummis had only the day before the events in Washington said she predicted that all cryptological legislation would be completed by the end of the year. This indicated that the window took place much later than President Trump’s wishes to complete the August Congress break. But even the Scott 30 timeline. September goes longer than Trump demanded.
One potential obstacle to the rapid process is immediately obvious: there is no sense from the Senate Agricultural Committee, which must also be considered in this main complex legislation. So far, the Banking Committee has led fees for the market structure, but it cannot approve the bill and Lummis after Thursday’s event acknowledged that this process was not so urgent for this other committee.
The White House Hines said that the President favors the house to simply unsubscribe for the Stablecoin law that the Senate passed without further work on it, and he appreciated the obligation of the Scott and Lummis timeline and added, “I think it is clear that they will both understand what is happening.”
In answering the question of Coindeska about working with Scott’s house, both chambers are “one team”.
“It was clear to me that I think the president’s mandate to move the genius immediately to his table is in the best interest of the American people,” Scott said. “
He said that the law on the structure of the house market, the Clarity Act, is “a strong template for us to move forward”.
Read more: The front crypto sees the senator at the end of the year as US legislation
