"For years, the digital frontier was trapped in a regulatory gray zone. Developers, entrepreneurs and investors were left with uncertainty. They faced confusion and enforcement actions when instead the government should have been crafting clear rules of the road."
"We're spending our time working on a bill written by the crypto industry, for the crypto industry. Nothing made it into this bill that wasn't approved by the crypto industry. She cited a CoinDesk survey showing crypto ranked at the bottom of voter priorities, with just 1% of respondents identifying it as their top concern."
"Chairman Tim Scott (R-SC) opened by casting the bill as a correction to years of regulatory failure. He framed the legislation around three pillars: consumer protection, retaining American innovation, and national security. He acknowledged the bill had grown substantially through negotiation and conceded that Republicans had not gotten everything they wanted."
"since June of last year, we have added 33,000 words and 219 pages to get this legislation as bipartisan as humanly possible"
The Senate Banking Committee held a markup on H.R. 3633, the Digital Asset Market Clarity Act of 2025, moving a major federal cryptocurrency regulation proposal toward a committee vote. The session featured partisan exchanges, procedural disputes, and efforts by Republicans to attract crossover Democrats, with a deadline tied to Memorial Day recess. Chairman Tim Scott framed the bill as correcting regulatory failures that left digital assets in a gray zone, creating uncertainty for developers, entrepreneurs, and investors. He described three pillars: consumer protection, preserving American innovation, and national security. Ranking Member Elizabeth Warren criticized the bill as industry-written, raised consumer cost concerns, and argued crypto is not a top voter priority.
Read at Bitcoin Magazine
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