The regulatory process for digital asset markets in the United States is accelerating. The White House's Digital Asset Markets Task Force is expected to release its first cryptocurrency policy report on July 22. The report could include regulatory and legislative recommendations, as well as proposals to establish a national digital asset reserve and ensure crypto companies have fair access to banking services. This development comes at a time when the Senate is intensifying its efforts towards structural reform of the crypto market. While the US House of Representatives is recessing this week due to a calendar change following the passage of the “One Big Beautiful” budget bill, the Senate has renewed its focus on crypto assets. On Wednesday, the Senate Banking Committee will hold a hearing on creating a regulatory framework for the $3 trillion digital asset industry, with a draft market structure bill also due to be released later in the week. The draft is expected to combine provisions of the Lummis-Gillibrand Responsible Financial Innovation Act of 2023 and the CLARITY Act introduced in the House of Representatives. The Senate Agriculture Committee will also play a major role in this process and will hold its own hearing soon. Next week, all eyes will be on the House of Representatives, where the House will vote on the Senate-passed stablecoin regulation GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act. The GENIUS Act is expected to head to President Donald Trump’s desk without any changes. The Trump administration is demanding that the bill pass “cleanly,” meaning without additional regulations. The anti-CBDC bill will be put to a separate vote by House Majority Leader Tom Emmer. This bill aims to block the Fed from developing digital currencies. On the other hand, the GENIUS Act contains similar language aimed at limiting the Fed’s authority. Crypto asset taxation could also be back on the agenda next week, with the House of Representatives Tax and Expenditure Oversight Subcommittee looking to reschedule a previously postponed hearing on digital asset taxation. *This is not investment advice. Continue Reading: Pay Attention to This Date in Cryptocurrencies! The First Cryptocurrency Report Will Come to Donald Trump's Desk! Here Are the Details
