According to Eleanor Terrett, the US legislative process for digital assets is advancing with key votes scheduled. The GENIUS Act is expected to face a vote tomorrow, while the CLARITY Act could be voted on as early as next week. In a significant development for the crypto market, language opposing a Central Bank Digital Currency (CBDC) is slated to be attached to the National Defense Authorization Act (NDAA). Terrett notes that these upcoming votes are procedural, focusing on the rules for debate rather than the final passage of the bills themselves, indicating that the legislative journey is progressing but still has several stages remaining.

According to @WhiteHouse, the Trump administration is actively working toward creating 'clear and simple market frameworks' to help the U.S. dominate the future of crypto and Bitcoin (BTC). At a recent summit, Donald Trump reiterated his pro-crypto stance and support for the GENIUS Act, which focuses on dollar-backed stablecoins. From a trading perspective, the most significant development is Senator Tim Scott's announcement of a new September 30 deadline for finalizing a comprehensive crypto market structure bill. While this provides a clearer timeline for regulatory clarity, which is often a bullish signal for the market, potential delays remain. The source notes that the House and Senate must still reconcile differences between their respective crypto bills, a process that could extend beyond the new deadline. The establishment of a firm regulatory framework is a critical catalyst watched by traders, as it could unlock significant institutional investment in digital assets like Bitcoin (BTC) and Ethereum (ETH).

According to @rovercrc, the proposed U.S. GENIUS Act poses a significant regulatory threat to Tether's (USDT) dominance, potentially forcing it to meet strict compliance standards or lose access to the U.S. market. The legislation, which requires one-for-one reserves in cash or Treasuries and monthly audits, could benefit U.S.-based competitors like Circle's USDC. While Standard Chartered predicts a $2 trillion stablecoin market by 2028, JPMorgan offers a more conservative forecast of $500 billion, arguing that growth will be driven primarily by crypto-native activities like trading and DeFi, which currently account for 88% of demand, rather than mass payment adoption. In response, Tether may focus on non-U.S. markets or consider launching a separate, fully regulated U.S. entity.

According to @FoxNews, significant momentum is building for U.S. crypto regulation, potentially bringing long-awaited clarity to the market. Senator Tim Scott, Chairman of the Senate Banking Committee, has committed to a September 30 deadline for completing a comprehensive crypto market structure bill, as stated to a White House crypto adviser. This updated timeline is earlier than previous year-end predictions, providing a more concrete path forward for traders. Concurrently, President Donald Trump, speaking at a Coinbase summit, reiterated his pro-crypto stance, promising his administration will work toward 'clear and simple market frameworks' and supporting the GENIUS Act for stablecoins. While potential hurdles remain, such as reconciling House and Senate versions of the bills and securing input from the Senate Agriculture Committee, the accelerated push for legislation is a positive signal for the crypto market, potentially reducing uncertainty and encouraging investment.

According to @GOPMajorityWhip, a significant U.S. budget bill has advanced from the Senate without a crypto-friendly tax provision championed by Senator Cynthia Lummis, which aimed to waive capital gains taxes on small digital asset transactions. This represents a setback for industry lobbying efforts, pushing the tax issue back to standalone legislation. In a separate, more positive development for the crypto market, Senate Banking Committee Chairman Tim Scott has set an aggressive new deadline of September 30 to finalize a comprehensive crypto market structure bill. This timeline, which is later than President Trump's request but earlier than previous year-end estimates, was endorsed by Senator Lummis and praised by a White House crypto adviser. However, potential delays remain as the House has not committed to the Senate's timeline or its recently passed GENIUS Act for stablecoins, signaling further negotiations may be required.

According to @FoxNews, U.S. Senator Tim Scott has set a new deadline of September 30 for completing the crypto market structure legislation, a timeline confirmed by Senator Cynthia Lummis. This development, reported by @FoxNews, provides a clearer, albeit extended, timeline than President Trump's request for passage by the August recess. The report also highlights friction between the Senate and House, with Representative French Hill noting 'subtle' and 'material' differences between the Senate's GENIUS Act for stablecoins and the House's version. According to the source, these disagreements could delay a final bill, creating uncertainty for traders and stablecoin issuers despite the White House's call for a swift, unaltered passage of the Senate's bill. A potential hindrance mentioned is the lack of a matching sense of urgency from the Senate Agriculture Committee, which must also approve the legislation.

According to @WhiteHouse, U.S. Senator Tim Scott has set a new deadline of September 30 for completing the crypto market structure bill, a timeline he considers realistic. This development, confirmed at a press event, aims to establish clear rules for the U.S. digital asset markets. President Donald Trump has also voiced strong support for crypto-friendly policies, advocating for the swift passage of the Senate's GENIUS Act for stablecoins and working towards "clear and simple" market frameworks to ensure U.S. dominance in crypto and Bitcoin (BTC), as stated in a recorded message at a Coinbase summit. However, potential delays exist as the House, led by Representative French Hill, has not committed to the Senate's timeline and may seek to reconcile differences between their respective stablecoin bills. Trump also referenced creating a "US Strategic Bitcoin Reserve," though this has not yet been established. This legislative push provides a critical timeline for traders monitoring the path to regulatory clarity in the United States, which could significantly impact market sentiment and institutional adoption.

According to @WhiteHouse, U.S. Senator Tim Scott has set a new September 30 deadline for completing the crypto market structure legislation, a timeline he communicated to a White House crypto adviser. This development signals a push for regulatory clarity, with the White House also favoring the House's immediate approval of the Senate-passed GENIUS Act for stablecoins. These moves for a comprehensive regulatory framework are significant for traders, as they could reduce uncertainty in the U.S. market. Separately, Senator Cynthia Lummis is pushing for a significant crypto tax amendment in a major budget bill. The proposal aims to waive taxes on crypto transactions under $300 and, crucially, change the tax treatment for staking and mining rewards. Under the amendment, these rewards would be taxed only upon their sale, not at the time of acquisition, which could substantially lower the tax burden for participants in networks like Ethereum (ETH). The measure also seeks to address the wash-trading loophole, potentially bringing more standardized and favorable tax rules that could encourage wider crypto adoption and investment.

According to @FoxNews, U.S. Senator Tim Scott, the chairman of the Senate Banking Committee, has established a new target deadline of September 30 for completing the comprehensive crypto market structure bill. This timeline was communicated to a White House crypto adviser and is viewed as more aggressive than previous year-end predictions, though later than President Trump's original request. The report also highlights pressure on the U.S. House of Representatives to quickly approve the Senate's already-passed stablecoin bill, the GENIUS Act. For traders, this accelerated timeline for major U.S. crypto legislation could significantly reduce regulatory uncertainty, a key barrier for institutional investment and a major driver of market volatility. However, potential delays remain, including hesitation from the House and the need for cooperation from the Senate Agriculture Committee.

According to @WhiteHouse, U.S. Senator Tim Scott has set a new deadline of September 30 for completing the crypto market structure legislation, providing a clearer timeline for traders seeking regulatory clarity. The source indicates this push for regulation comes as the Senate-passed stablecoin bill, the GENIUS Act, awaits action in the House of Representatives. This legislative momentum could significantly impact the stablecoin sector and the broader digital asset market. Simultaneously, reports cited in the text reveal that a company affiliated with President Donald Trump and his family recently sold a 20% stake in the parent company of World Liberty Financial, which has its own stablecoin. This development adds a layer of political complexity to the regulatory discussions. Amid these developments, market data shows positive momentum for major altcoins, with Ethereum (ETH) up over 3.1% and Solana (SOL) rising more than 3.7% in the last 24 hours.

According to Eleanor Terrett, leading U.S. Senator Cynthia Lummis has set a target for comprehensive crypto legislation to be finalized before the end of the 2024 calendar year. While the Senate recently passed a stablecoin bill, Lummis acknowledged that achieving broader market structure regulation faces significant bipartisan challenges, describing the effort to secure Democratic votes as a "tooth-pulling exercise." The report highlights that key disagreements persist, including a Democratic push to potentially ban senior government officials from engaging in crypto businesses. For traders, this extended timeline and political division in the Senate, which Lummis calls the "highest hurdle," introduce continued regulatory uncertainty that could influence market sentiment and delay the establishment of a clear operational framework for digital assets in the United States.

According to @FoxNews, U.S. Senator Tim Scott has set a new deadline of September 30 for completing the crypto market structure legislation, a timeline he communicated to a White House crypto adviser. This target is later than President Trump's desired August completion but earlier than the year-end prediction from Senator Cynthia Lummis. However, progress faces potential hurdles, as key House lawmakers like Representative French Hill have not committed to fast-tracking the Senate's separate stablecoin bill (GENIUS Act), suggesting a more complex negotiation process. Senator Lummis also highlighted growing partisan division, noting Democratic concerns over potential conflicts of interest related to the Trump administration. This legislative uncertainty unfolds as the crypto market shows positive movement, with Bitcoin (BTC) trading near $108,344 and Ethereum (ETH) around $2,494, indicating that traders are closely monitoring for regulatory clarity which could serve as a significant market catalyst.

According to @FoxNews, U.S. Senator Tim Scott has established a new, accelerated deadline of September 30 for completing the crypto market structure bill, a move that could provide significant regulatory clarity for the digital asset market sooner than anticipated. Scott, the chairman of the Senate Banking Committee, confirmed this timeline to a White House adviser, noting it aligns with President Trump's push for swift action, as detailed in the report. This development provides a concrete date for traders to watch, potentially impacting market sentiment for assets like Ethereum (ETH), which is currently trading at $2494.57 (up 2.449%), and Solana (SOL) at $153.01 (up 1.641%). However, potential headwinds remain, as Senator Adam Schiff has introduced the COIN Act to prohibit officials, including President Trump, from sponsoring cryptocurrencies, reflecting ongoing Democratic concerns over potential conflicts of interest. Despite this, the source notes that Schiff was among 18 Democrats who supported the recently passed stablecoin bill, indicating a complex but potentially navigable path for the broader market structure legislation.

According to the author, stablecoins are enabling a shift to narrow banking, with annual transaction volumes reaching $35 trillion and user adoption growing over 50% to 30 million, potentially increasing liquidity and reducing volatility in crypto trading. This evolution, supported by US legislative efforts to mandate full backing with high-quality liquid assets, could boost DeFi activity and provide more stable entry points for assets like BTC and ETH, enhancing overall market efficiency as real-world applications expand in unstable currency regions like Argentina and Nigeria.

According to the author, stablecoins are facilitating a shift to narrow banking, with annual transaction volumes hitting $35 trillion and user growth exceeding 30 million, enhancing liquidity and trading efficiency in cryptocurrency markets like BTC and SOL. This development, supported by U.S. legislation, could stabilize crypto assets and boost trading opportunities, as stablecoins serve as key on/off ramps for DeFi activities, according to the article.

According to the author, stablecoins are driving a monetary revolution by enabling narrow banking principles, which could reduce systemic financial risks and enhance cryptocurrency trading. The article states that U.S. Congress is advancing legislation to mandate full backing of stablecoins with high-quality assets, potentially increasing their adoption in global payments and DeFi activities. This development may boost crypto market liquidity and attract institutional investment, as stablecoins facilitate efficient on/off-ramps and reduce counterparty risks in transactions.

According to the author, stablecoins are driving a monetary revolution by enabling narrow banking, which reduces systemic risks in traditional finance and enhances crypto market stability. With $35 trillion in annual transaction volume and growing real-world adoption, stablecoins increase liquidity for crypto assets like BTC, potentially boosting trading volumes and price support. U.S. legislation formalizing stablecoins as narrow banks could accelerate crypto adoption, benefiting decentralized finance (DeFi) ecosystems. Source: the provided article.

According to U.S. Congressional leaders, the passage of the GENIUS Act establishes clear regulatory frameworks for stablecoins, reducing market uncertainty and potentially enhancing investor confidence in digital assets like Bitcoin (BTC). The BITCOIN Act aims to clarify BTC's legal status, which could decrease volatility and attract institutional capital. State initiatives such as Michigan's pro-crypto bills support adoption, but unresolved tax issues like the de minimis exemption need addressing to facilitate everyday BTC transactions. (Source: Article)

According to the author, stablecoins are enabling a monetary revolution similar to narrow banking, with annual transaction volumes reaching $35 trillion and user growth exceeding 30 million, as reported. This surge is boosting DeFi trading and remittances, which could enhance liquidity and reduce volatility in crypto markets like BTC and ETH. US legislation is formalizing stablecoin regulations, potentially attracting more institutional investment into crypto assets.

According to the author, stablecoins are enabling a monetary revolution akin to narrow banking, with U.S. legislation advancing to support their $250 billion market value and $35 trillion annual transaction volume. This enhances liquidity and stability in cryptocurrency markets, particularly boosting DeFi trading and influencing assets like BTC as a store of value and SOL for its DeFi integration, as detailed in the analysis of congressional actions and global adoption trends.