White House Digital Asset Market Working Group Expected to Release First Crypto Policy Report on July 22

PANews, July 7—According to Crypto In America, the U.S. House of Representatives is in recess this week due to a schedule adjustment, while the Senate is shifting its focus to cryptocurrency market structure. The Senate Banking Committee will hold a hearing this Wednesday to discuss establishing a regulatory framework for the $3 trillion digital asset industry and is expected to release a draft for market structure reform this week. This draft will incorporate elements from the 2023 Lummis-Gillibrand Responsible Financial Innovation Act and the House CLARITY Act, with the goal of advancing the legislative process before the August recess.

Next week, the House will vote on the Senate-passed stablecoin bill, the GENIUS Act, the CLARITY Act, and the anti-central bank digital currency surveillance bill. In addition, the White House Digital Asset Market Working Group is expected to release its first crypto policy report on July 22, covering regulatory and legislative recommendations, which may include establishing a national digital asset reserve and ensuring fair access to banking services for crypto businesses.