- US senators unveil new crypto rules aiming to end market confusion, boost innovation, and fulfill Trump’s promise to lead in crypto.
- The draft bill brings clarity by classifying digital assets, adding disclosure rules, and modernizing outdated financial regulations.
- Senate push follows House action, signaling full government support to make America the global center of digital finance growth.
A new crypto bill is gaining momentum in the U.S. Senate, promising to reshape digital asset regulation. On July 21, Senate banking leaders released a discussion draft of sweeping legislation that could transform crypto.
Spearheaded by Senators Tim Scott, Cynthia Lummis, Bill Hagerty, and Bernie Moreno, the proposal aims to make the U.S. the global leader in digital finance. This aligns with former President Trump’s pledge to turn America into the “crypto capital of the planet.”
The draft builds on recent progress in the House of Representatives. Last week, the House passed two key bills—GENIUS and CLARITY. Trump has already signed GENIUS into law. The Senate now seeks to expand on this momentum with clearer digital asset guidelines. According to Senator Scott, the goal is to create strong investor protections while boosting innovation.
A Clear Roadmap for Crypto Market Growth
The proposed legislation targets market structure and regulatory clarity. It outlines specific rules for classifying digital assets as either securities or commodities. This helps remove the long-standing confusion that has frustrated crypto businesses and investors.
Additionally, the draft includes disclosure rules and calls for new SEC regulations. It also seeks to modernize outdated securities laws. Significantly, the bill sets guardrails to prevent illicit finance. These steps, if adopted, could streamline compliance and reduce legal uncertainty.
Moreover, the Senate plans to gather feedback from industry players through a Request for Information (RFI). This collaborative approach could make the final version more practical and inclusive. Senator Lummis stressed that regulatory uncertainty must end. She believes the draft offers balance—protecting consumers while supporting innovation.
Trump’s Crypto Vision Takes Shape
This legislative effort directly supports Trump’s campaign goals. He has backed digital assets as part of his broader economic strategy. The recent House wins and Senate draft show growing alignment between Congress and the White House.
As a result, this bill might place the United States at the forefront of global innovation in cryptocurrency. Additionally, the legal certainty can draw more firms, expertise, and cash to American cryptocurrency.
