US lawmakers on the House Financial Services Committee are expected to meet for a markup hearing on Tuesday to consider a cryptocurrency market structure bill, which could be amended to add protections for blockchain developers.According to a notice released ahead of the hearing, committee chair French Hill introduced an amendment to the Digital Asset Market Clarity Act of 2025, otherwise known as the CLARITY Act, focusing on the treatment of certain non-controlling blockchain developers.
The amendment proposed that, under the potential market structure law, certain blockchain developers or service providers would not be considered money transmitters or subject to their registration requirements.The provision for blockchain developers appeared to originate from the Blockchain Regulatory Certainty Act, legislation spearheaded by Representative Tom Emmer and a bipartisan group of lawmakers in May.
Many crypto advocacy groups, including the Blockchain Association, called on lawmakers to combine the two bills.Part of the proposed amendment to the CLARITY Act.
Source: House Financial Services CommitteeThe Tuesday markup hearing will include a crucial discussion and vote for amendments to the CLARITY Act before potentially sending the bill to the full chamber.
In the Senate, lawmakers are expected to soon vote on the GENIUS Act legislation to regulate payment stablecoins.
Senate Majority Leader John Thune reportedly said he wanted the bill wrapped up this week.Related: California moves forward bill to accept crypto for state paymentsI think stablecoin legislation has made incredible progress, in large part because I think there is a fairly consistent bipartisan consensus that its in the United States interest to have sensible rules for stablecoins, Coinbase Chief Legal Officer Paul Grewal told Cointelegraph on May 27, adding: A market structure bill is equally important for long-term stability and growth.Representative Maxine Waters, ranking member of the House Financial Services Committee, has said nothing to suggest she and many other Democrats will vote for the CLARITY Act if the time comes.
The California lawmaker organized a Minority Day hearing on Friday to address allegations of corruption through US President Donald Trumps ties to the crypto industry.Not a single provision within [the CLARITY Act] addresses the crimes Ive laid out, said Waters on Friday.
In fact, this bill only legitimizes it.However, at least one Democratic representative who has previously advocated for legislation impacting the crypto industry has suggested he will support the market structure bill.
Ritchie Torres is a co-sponsor of the CLARITY Act and the Blockchain Regulatory Certainty Act.
Cointelegraph reached out to a representative for Torres but had not received a response at the time of publication.Magazine: Crypto wanted to overthrow banks, now its becoming them in stablecoin fight