Washington, DC-the American senator Tim Scott, president of the Senate Banking Committee, on Thursday told an advisor to crypt out of the White House that the legislation that establishes rules for cryptography markets of the United States will end before September 30, later than President Donald Trump had in mind, but before the end of the end of the year of the year They create the bill.
In a press event on Thursday in the audience hall of his committee, Scott told Trump Bo Hines Crypto that the new deadline is possible for legislation and expressed agreement with Trump that the United States representatives camera should also quickly sign the Stablcoin bill that the Senate approved last week.
Scott, whose committee recently shared some guidelines on how some higher republicans want market regulations to see, said it intends a timeline “see the market structure completed before the end of September. I think it is a realistic expectation.”
To that, Senator Cynthia Lummis, who directs the digital asset subcommittee focused on that work, said: “Yes, Lord. You are the president, and we will do what you want.”
Meanwhile, Top House legislators have hesitated to announce their own strategy for the two related bills on the structure of the cryptography and stable market. The Chamber had been at the head on the previous issue, with its law of clarity of the digital asset market that clarified to the necessary committees on its way to the camera floor. But representative French Hill, the president of the Chamber Financial Services Committee that leads the position, refused to reveal if the Chamber will move with the Senate Guide and the establishment of national innovation for the United States. (GENIUS) Act.
Hill pointed out this week that he believes that some problems must be resolved between Genius law and the Chamber Stablecoin’s own legislation, which would suggest a longer process that could take into account the short -term deadlines that the Senate has in mind.
Senator Lummis had only said the day before at a Washington event that predicted that all cryptographic legislation will be completed by the end of the year. That suggested a window much later than President Trump’s desire to end at the break of the August Congress. But even the time line of September 30 by Scott spends more time than Trump requested.
A potential obstacle for a rapid process is immediately evident: there is no coincidental sense of the Senate Agriculture Committee, which must also evaluate this important and complex legislation. Until now, the Banking Committee has led the position for the structure of the market, but cannot approve the bill on its own, and Lummis recognized after Thursday’s event that the process has not been so urgent for that other committee.
On the other hand, HIES of the White House said that the president favors the Chamber simply signing in the Stablecoin bill that the Senate approved, without further work on it, and praised the commitment of the timeline made by Scott and Lummis, and added: “I think it is very clear that they both understand what is happening.”
In an answer to a Coendesk question about working with the house, Scott said the two cameras are “a team.”
“I have been much clear that I think that the mandate of the president of Genius’s performance immediately to his desk is the best for the American people,” said Scott … “I think we can do both things in a matter very sensitive to time, and that is why I have committed to a deadline.”
He said that the Chamber market structure bill, the clarity law, is a “strong template for us to advance.”
Read more: the leading cryptographic senator sees the end of the year as an objective of US legislation
