The United States Senate is preparing to vote on a key bill that will define the regulatory framework for the cryptocurrency market in the country. The document is expected to be brought before the Senate Banking Committee in September 2025.
This is reported by Finway
Plans for Cryptocurrency Market Regulation and Bitcoin Reserve Creation
Senator Cynthia Lummis, Senator Tim Scott, and Executive Director of the President’s Council on Digital Assets Bo Hines stated at a press conference that the bill will be drafted before the August recess in Congress. According to them, this initiative aims to provide a clear structure for the digital asset market in the U.S.
Additionally, the administration of President Donald Trump continues to work on creating the infrastructure for forming a strategic reserve of bitcoins. Bo Hines confirmed that the process of accumulating the digital asset is already underway, and the government aims to use budget-neutral financial instruments for this purpose.
“The administration is excited about the idea of accumulating more bitcoins in budget-neutral ways.”
It is worth noting that Donald Trump’s March executive order does not require the U.S. Department of the Treasury to publish reports on the existing government bitcoins. However, the administration may voluntarily disclose this information if deemed necessary.
Legislative Initiatives on Stablecoins and Digital Assets
Participants at the press conference also emphasized the importance of the House of Representatives passing the “Guiding and Establishing National Innovation for U.S. Stablecoins” (GENIUS Act) bill as soon as possible, which pertains to the regulation of stablecoins in the U.S. Once passed, the document will be sent to the president for signing.
Previously, the Senate approved the GENIUS Act with a margin of 38 votes, and President Donald Trump expects to receive the bill for signing by August 2025. The adoption of these regulations will create a new legislative framework for the cryptocurrency market, integrating digital assets into the country’s financial strategy.
Additionally, the U.S. House of Representatives recently updated the text of the bill regarding the regulation of the digital asset market structure, strengthening the U.S. position in cryptocurrency legislation.