Some U.S. Republican senators just introduced a big new bill to give clear rules for the crypto industry. It’s being called the “biggest crypto bill of the year” and was posted today on the Senate Banking Committee’s website.
🧑⚖️ Who’s Behind the Bill?
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Senator Tim Scott (Chair of the Banking Committee)
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Senator Cynthia Lummis (a strong crypto supporter)
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Senators Bill Hagerty and Tom Tillis are also backing it
📜 What the Bill Does
This bill is meant to end the confusion around crypto regulation in the U.S. Here’s what it includes:
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Clear rules to tell if a crypto token is a security or a commodity
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If it’s a security, the SEC regulates it
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If it’s a commodity, the CFTC takes over
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Crypto exchanges will register with the CFTC, not the SEC
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This is a major shift because the SEC (led by Gary Gensler) had sued big exchanges like Coinbase and Binance for not registering
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The bill would now officially make the CFTC the main regulator of crypto
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🔐 Fighting Crime and Boosting Support
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The bill includes a “common sense package” to prevent money laundering and sanctions evasion
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Senator Scott hopes this part will help get bipartisan support, especially since many Democrats supported the recent GENIUS stablecoin bill
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President Trump also said he would sign the stablecoin bill as soon as it reaches his desk
🕒 What’s Next?
A formal hearing on the bill is scheduled for today at 3 p.m. ET. If things go well, this could become a major step forward for the crypto industry in the U.S.
Disclaimer: This article is only for
information and not financial advice. The opinions shared here may be the
writer’s personal views. Please do your own research before making any
investment choices. We are not responsible for any money you may lose.
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