Crypto Rules: Senate Takes a Big Step

The Senate Committee on Agriculture, Nutrition, and Forestry has a big plan. They want to make crypto rules clearer. On January 27, they will talk about a new bill. This bill could change how crypto works in the U. S. The committee shared this news on Monday. They will show the bill on January 21. Then, they will talk about it on January 27. This gives people time to read and think about it. The chairman, John Boozman, said this plan is good. It lets people see what is happening. It also helps protect people and supports new ideas. A markup in the Senate is like a big meeting. They talk, make changes, and vote. If they like the bill, it goes to the full Senate. Then, it needs to pass the House of Representatives. After that, the President can sign it into law.Last year, government shutdowns slowed down crypto bills. There might be another shutdown soon. But, it is not likely. Paul Atkins, the SEC chairman, thinks the President will sign the bill this year. The Senate Banking Committee is also working on this. They will talk about it on Thursday. The bill gives the SEC and CFTC more power. Many people like this. It makes things clearer. But, there are still some problems. For example, rules about stablecoins and decentralized finance are not clear yet. This week, the Senate Banking Committee changed the bill. They want to stop crypto companies from giving passive yield on stablecoins. Some U. S. banking groups do not like this idea.