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US Senate Moves to Regulate Crypto Markets with New Legislative Bill

The US Senate is gearing up to introduce a new bill aimed at regulating cryptocurrency markets by the end of September.

Sources indicate that the Senate Banking Committee will hold a markup hearing on September 30 for the proposed "Responsible Financial Innovation Act of 2025."

This bill seeks to clarify the role of the Securities and Exchange Commission (SEC) in the rapidly evolving crypto landscape.

During the markup session, committee members will have the opportunity to suggest amendments to the legislation before it heads to the full Senate for consideration.

Concurrently, the Senate Agriculture Committee is expected to unveil its own draft concerning market structure in early September.

Key figures such as Senate Banking Committee Chairman Tim Scott and Senators Cynthia Lummis, Bill Hagerty, and Bernie Moreno have already released a preliminary draft of the bill.

This initiative follows the recent passage of the CLARITY Act in the House of Representatives, which received significant bipartisan support.

In their efforts to create cohesive legislation, both the Senate and House bills will need to be combined during the legislative process.

Lummis has expressed her goal of reaching President Trump's desk with the finalized crypto market structure bill by Thanksgiving.

As the legislative landscape evolves, the importance of developing a clear regulatory framework for cryptocurrencies becomes increasingly apparent.