White House Digital Asset Markets Working Group expected to release first crypto policy report on July 22

PANews reported on July 7 that according to Crypto In America, the U.S. House of Representatives adjourned this week due to schedule adjustments, and the Senate turned its focus to the structure of the cryptocurrency market. The Senate Banking Committee will hold a hearing on Wednesday to discuss the establishment of a regulatory framework for the $3 trillion digital asset industry, and is expected to release a discussion draft on market structure reform this week. The draft will combine the relevant content of the Lummis-Gillibrand Responsible Financial Innovation Act of 2023 and the House CLARITY Act, with the goal of promoting the legislative process before the August recess.

Next week, the House of Representatives will vote on the stablecoin bills GENIUS Act, CLARITY Act and anti-central bank digital currency monitoring bills passed by the Senate. 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, or involving the establishment of a national digital asset reserve and ensuring that crypto companies have fair access to banking services.