House Republicans Prepare for Cryptocurrency Legislation Vote
House Republican leaders are preparing to potentially cast a vote on significant cryptocurrency legislation this week, according to a recent report from Politico. The focus of the vote will be a legislative package that includes regulations for stablecoins alongside the CLARITY Act, which outlines the structure of the cryptocurrency market. Earlier this month, it was suggested that the Republicans might consider integrating these two legislative efforts to maintain momentum within the current session.
Details and Uncertainties
However, specifics regarding the merger of these bills remain unavailable, and it is still uncertain if they will indeed be voted on as a single item. Brendan Pedersen, a reporter for Punchbowl News, relayed comments from Majority Whip Tom Emmer, who indicated that House Republicans plan to vote on the stablecoin legislation known as the GENIUS Act if it is joined with modifications to market structure.
Legislation Progress and Potential Delays
Earlier this year in June, committees in the House advanced the market structure legislation, which aims to reform the regulatory framework governing the cryptocurrency sector. While discussions are in progress, the exact timing of the expected vote is not guaranteed, and there is a possibility that it may be delayed.
