White House Establishes Deadline for Crypto Legislation as Congress Moves Forward with GENIUS and CLARITY Acts | Market | CryptoRank.io
The new crypto legislation, encompassing GENIUS and CLARITY, is expected to be finalized by September 30.
Key supporters—Coinbase, FHFA, and various legislators—are advocating for significant reforms concerning stablecoins and cryptocurrency markets.
The FHFA has now recognized cryptocurrency as valid mortgage assets, thereby enhancing its practical application.
The White House has set a definitive timeline for crypto legislation, with AI & Crypto Czar David Sacks announcing that the market structure bills will be ready by September 30. July is anticipated to be pivotal, as the GENIUS Act moves toward the bill-signing phase, while the CLARITY Act progresses to the Senate.
Senate Banking Committee Chair Tim Scott and Digital Assets Subcommittee Chair Cynthia Lummis are leading this legislative initiative with a structured plan. This agenda encompasses introducing the bill before the August recess, markup in the first week of September, and finalization by the month’s end. The CLARITY Act is centered around market structure issues, while the GENIUS Act specifically addresses stablecoin frameworks. Both initiatives receive backing from President Trump.
A special thanks to Senate Banking Committee Chair @SenatorTimScott and Digital Assets Subcommittee Chair @SenLummis for outlining a clear agenda…
The post White House Sets Crypto Law Deadline as Congress Advances GENIUS and CLARITY Acts appeared first on Coin Edition.
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