- Several key crypto and blockchain bills will be discussed in Congress after summer recess.
- The House recently passed the CLARITY Act and the Deploying American Blockchains Act, both awaiting Senate action.
- The White House released a report encouraging Congress to support digital asset market structure reforms.
- Lawmakers are considering rules for the taxation of digital assets, with new proposals outlined in recent committee hearings.
- Legislation aims to clarify rules for non-custodial crypto service providers, specifying they are not classified as money transmitters.
Lawmakers in both the U.S. House and Senate are preparing to review several major bills related to cryptocurrency, decentralized finance (DeFi), and Web3 technologies when Congress returns after the summer recess. These proposed laws are intended to create a clear regulatory framework for the growing blockchain and digital asset sector.
In July, the House passed the CLARITY Act, which received bipartisan support, including votes from 78 Democrats. The Senate’s version of the bill is still being drafted by several senators, with public comments requested through next week. The White House recently published a report backing the CLARITY Act, stating that a clear structure for digital asset markets is necessary for consumer protection and innovation. The working group emphasized, “The Working Group recommends that Congress build on the massive bipartisan House of Representatives vote for CLARITY by enacting legislation.”
Another bill, the Deploying American Blockchains Act (H.R.1664), passed in the House in June. Its Senate counterpart, S.1492, is awaiting a vote and is supported by multiple senators. These bills are designed to help maintain the United States’ leadership in blockchain innovation.
Additionally, Congress has started to look at how digital assets are taxed. The House Ways and Means Committee held a hearing on this subject in July, led by Congressman Max Miller. Senator Cynthia Lummis introduced a digital assets taxation package as part of ongoing efforts to update tax rules for crypto.
Protections for companies and developers who provide non-custodial services—those that do not handle customer funds—are also being addressed. The Blockchain Regulatory Certainty Act was reintroduced this spring by Representatives Tom Emmer and Ritchie Torres, with the aim to clarify that these service providers are not subject to regulations for money transmitters.
Congress will revisit all of these legislative proposals after Labor Day, building on the recently enacted stablecoin law and responding to recommendations from key policymakers, including those from Senator Elizabeth Warren, who outlined principles for crypto market structure reform. The upcoming discussions are expected to help shape the future regulatory landscape for digital assets in the United States.
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