Economist Steve Moore applauds President Donald Trump for signing a cryptocurrency bill on “results”.
First on Fox: The leaders of the Senate banks published an initial discussion project for Digital asset market structure legislation that would reshape the cryptocurrency industry when the bill is officially introduced.
This decision, led by the Senators of Gop Tim Scott, R-South Carolina, Cynthia Lummis, R-Wyoming, Bill Hagerty, R-Texas and Bernie Moreno, R-Ohio, is a major stage in the campaign promise of President Trump to make America “Captain of the planet crypto.”
“My colleagues and I in the House and the Senate share the same objective: to provide clear road rules to digital assets that protect investors, promote innovation and maintain the future of digital finance anchored in America,” said the president of the Senate banking committee, Tim Scott, in Fox News Digital.
Senator Tim Scott, a Southern Carolina Republican and Chairman of the Senatorial Banks, Housing and Urban Affairs Committee during a confirmation audience in Washington, DC, United States, Thursday, February 27, 2025. (Al Drago / Bloomberg via Getty Images / Getty Images)
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“I am grateful for the hard work of our House counterparts to develop intelligent and bipartite legislation, and I can’t wait to rely on their work here in the Senate. By working with President Trump, we can deliver a complete bipartite regulatory framework for digital assets,” added Scott.
The Senate now resumes where the House of Representatives stopped after adopting a series of bills linked to the crypto last week, one being the guide and the establishment of national innovation for American stablecoins (Genius), which President Donald Trump signed last Friday.
The house has also adopted the law on the clarity of the digital asset market (clarity) in a 294-134 Bippartisan vote. The bill will serve as a framework for the Senate version, likely to be presented shortly after the discussion project, helps to build the full legislative text.
President Donald Trump speaks before the signing of the Blanche House Engineering Act in Washington, DC, July 18, 2025. (Allison Robbert / For Washington Post / Getty Images)
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The leaders of the Senate banks also issue a request for information (RFI) for stakeholders and leaders in the industry in order to give their opinion on the best way to carry out the bill.
The Senate banks’ subcommittee on the president of digital assets, Cynthia Lummis, also weighed on the discussion project, telling Fox News Digital that “the moment of regulatory uncertainty in the space of digital assets has ended”.
“This discussion project represents a thoughtful and balanced approach that will provide the clarity that our innovators need while providing robust consumer protections,” said Lummis. “The legislation on the structure of the market will establish clear distinctions between digital asset titles and basic products, modernize our regulatory framework and position the United States as a world leader in innovation in digital assets.”
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A sign of neon indicates that Bitcoin is accepted within the place of the Paralelni Polis project, an organization combining art, social sciences and modern technology, in Prague, Czech Republic, Friday January 5, 2024. (Milan Jaros / Bloomberg via Getty Images / Getty Images)
The discussion project will be used to open the conversation surrounding the structure of the market for digital assets through several key components, such as the definition of auxiliary assets, creating disclosure requirements, requiring the Commission of securities (Sec) To promulgate new rules, modernize securities regulations and prevent illicit financing.
The main objectives of market structure legislation are to establish a uniform playground for digital asset traders, stimulate American innovation in the sector and provide consumer protection for billions of cryptographic stock market capitalizations.
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Bitcoin reached a summit of $ 122,838 last Monday, a few days before the Chamber was adopted by cryptographic legislation and just over a week before the introduction of this discussion project in the Senate.
