The US Senate to Consider New Bill Regulating Cryptocurrency Markets
The US Senate is set to discuss a new bill aimed at regulating cryptocurrency markets by the end of September. The bill, titled “Responsible Financial Innovation Act of 2025,” will be the focus of a markup hearing scheduled by the Senate Banking Committee on September 30.
One of the main objectives of the bill is to define the role of the Securities and Exchange Commission (SEC) in overseeing crypto markets. During the markup session, committee members will have the opportunity to propose amendments to the bill before deciding on its submission to the full Senate.
Key Points:
- The Senate Banking Committee plans to hold a markup hearing for the “Responsible Financial Innovation Act of 2025” on September 30.
- The bill aims to clarify the SEC’s role in cryptocurrency markets.
- The Senate Agriculture Committee is expected to release its own draft market structure legislation in early September.
Chairman of the Senate Banking Committee, Tim Scott, along with Senators Cynthia Lummis, Bill Hagerty, and Bernie Moreno, introduced a discussion draft of the bill in July. This move follows the passing of the CLARITY Act by the House of Representatives. An updated version of the bill will be released before the markup session.
It is anticipated that the bills from the Senate and the House will need to be merged into a single piece of legislation as they progress through the legislative process. Senator Lummis expressed her goal of getting the crypto market structure bill onto President Donald Trump’s desk by Thanksgiving during the Wyoming Blockchain Symposium.
The CLARITY Act, which was approved by the House with a vote of 294-134 and bipartisan support, is over 250 pages long. In contrast, the Senate’s bill is concise at 35 pages, offering a simpler framework for regulating cryptocurrency markets.
*Please note that the information provided is not intended as investment advice.