Catenaa, Wednesday, June 25, 2025- A group of senior Senate Republicans led by Sen. Tim Scott on Tuesday unveiled a comprehensive framework for regulating digital asset markets in the United States, marking the Senate’s most significant push yet to shape crypto legislation.
The proposal outlines principles to clarify regulatory jurisdiction between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
It also supports a dual-agency oversight model, targeted anti-money laundering rules, and safeguards against the emergence of a dominant regulator.
Senators Cynthia Lummis, Thom Tillis, and Bill Hagerty joined Scott in backing the initiative. The announcement comes just ahead of a Senate Banking subcommittee hearing on digital assets, chaired by Lummis, who said the US has fallen behind the EU and Singapore in providing regulatory clarity.
The hearing featured testimony from legal experts representing Coinbase, Multicoin Capital and academia. Their comments underscored bipartisan concerns about market resiliency and the need for investor protections.
The timing follows the Senate’s June 17 passage of the GENIUS Act, a stablecoin bill that drew support from 18 Democrats and most Republicans.
President Donald Trump urged the House to swiftly pass the legislation without changes, calling it a landmark achievement for US digital asset policy.
However, House Republicans may seek to package the stablecoin bill with their market structure proposal, the CLARITY Act. This divergence raises questions over how the Senate’s new framework will align with House efforts in the coming weeks.
