US EditionSenator Says America's $3 Trillion Crypto Market Needs Rules 'Yesterday'—Here's Why Investors Should Care
UNITED STATES, JUL 9 – U.S. lawmakers aim to clarify regulatory oversight through the Clarity Act and GENIUS Act to protect investors and promote market stability, with bipartisan support on key provisions.
- Senator Cynthia Lummis stated yesterday that the U.S. urgently needs comprehensive market structure legislation for its $3 trillion crypto market to protect investors and enable growth.
- This urgency stems from America falling behind nations like Europe and Singapore, causing costly legal battles and regulatory confusion that hinder innovation and drive capital overseas.
- Legislative efforts include the House's Digital Asset Market Clarity Act introduced in May and the Senate's bipartisan Genius Act focused on stablecoins, while broader regulatory framework discussions continue in both chambers.
- Ripple CEO Brad Garlinghouse urged prioritizing smart legislation based on principles protecting consumers, markets, and innovation, highlighting Ripple’s compliance-first approach with over 60 licenses globally.
- The evolving regulatory landscape suggests that passing clear rules could reduce market volatility, expand investor access, and help the U.S. regain leadership in digital assets amid political divides and uncertainty.
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Senate battles crypto regulation as 'Crypto Week' approaches
(The Center Square) - Senators clashed in a U.S. Senate Banking Committee hearing Wednesday over regulations on cryptocurrency as the House of Representatives prepares to vote on legislation regulating the digital asset next week.
·Calhoun, United States
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U.S. Digital Assets Tax Policy Getting Hearing During 'Crypto Week' - Data Intelligence
As the U.S. House of Representatives digs into digital assets policy during what lawmakers have styled “Crypto Week” next week, the committee that focuses on tax policy will discuss the proper way forward for taxing crypto. The chairman of the House Ways and Means Committee, Representative Jason Smith, announced a July 16 hearing of the oversight subcommittee to look at the “affirmative steps needed to place a tax policy framework on digital ass…
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