Senators Cynthia Lummis, Tim Scott, and Executive Director of the President’s Advisory Council on Digital Assets, Bo Hines, announced the preparation of a bill aimed at regulating the structure of the cryptocurrency market in the U.S. The document is expected to be brought to a vote in the Senate Banking Committee in September 2025.
This is reported by Business • Media
Legislative Initiatives on Digital Assets
According to participants at the press conference, a draft of the relevant bill is planned to be presented before the August recess in Congress. This is intended to expedite the review of the document and prepare for its adoption.
Meanwhile, the administration of U.S. President Donald Trump continues to build the infrastructure for a strategic reserve of Bitcoin. As noted by Bo Hines, the process of creating the necessary infrastructure is already actively underway.
“The administration is excited about the idea of accumulating more Bitcoins in budget-neutral ways.”
Despite the fact that the March presidential order does not require the Treasury Department to publish a report on existing government Bitcoins, the administration may voluntarily disclose the relevant information.
Regulation of Stablecoins and Legislative Updates
Participants at the press conference also urged the House of Representatives to pass the “Guiding and Establishing National Innovation for U.S. Stablecoins” (GENIUS Act) bill as soon as possible, so it can be sent for the President’s signature.
It is worth noting that the GENIUS Act was approved by the Senate with a margin of 38 votes, and President Donald Trump is already anticipating the signing of the document by August 2025.
Experts believe that the adoption of these legislative acts will create a modern regulatory framework for the U.S. cryptocurrency market and integrate digital assets into the country’s financial strategy.
Additionally, it is important to mention that the U.S. House of Representatives recently updated the text of the bill regarding the structure of the digital asset market, indicating active work on reforming this sector.