INSUBCONTINENT EXCLUSIVE:
Roughly a week after the US Senate voted to pass the GENIUS Act to regulate payment stablecoins, the chamber is moving to discuss a path
general counsel, Greg Xethalis and University of Pennsylvania Wharton School Executive Director, Sarah Hammer.The hearing will be one of the
Senate's first follow-ups on digital asset legislation since passing the GENIUS Act on June 17 in a 68 to 30 vote
The bill moved to the House of Representatives for discussion, proposed amendments, and a possible floor vote
While the Senate considers a bipartisan solution for crypto market structure, the House is already moving forward with its own legislation
Earlier this month, the House Agriculture Committee and the House Financial Services Committee voted to advance the Digital Asset Market
the form of a companion bill or incorporating aspects of the House bill
Cointelegraph reached out to Senator Cynthia Lummis, chair of the digital assets subcommittee, for comment on the hearing, but had not
received a response at the time of publication.Combined, the stablecoin bill and the market structure bill could address many of the
regulatory issues that leaders in the crypto industry have criticized about the US
However, the legislation still faces pushback from many Democrats in Congress, questioning how US President Donald Trump and his family
could personally profit from the bills passing, given their ties to the industry through memecoins, the World Liberty Financial platform,
if the House were to pass it quickly
