US Senate to Review Cryptocurrency Bill This Week to Clarify Responsibilities and Resolve Stalemate
The US Senate is set to review a long-awaited bill this week that will establish a regulatory framework for cryptocurrencies and potentially break the stalemate between cryptocurrency companies and the US banking industry. The "Digital Asset Market Clarity Act of 2025" aims to clarify the jurisdiction of financial regulators over this emerging industry.
📋 Article Processing Timeline
- 📰 Published: May 11, 2026 at 10:35
- 🔍 Collected: May 11, 2026 at 11:01 (26 min after Published)
- 🤖 AI Analyzed: May 12, 2026 at 05:18 (18h 16m after Collected)
Central News Agency
(Central News Agency, Washington, 10th, comprehensive foreign report) The US Senate is preparing to review a long-awaited bill this week that will establish a regulatory framework for cryptocurrencies and potentially break the stalemate between cryptocurrency companies and the US banking industry that has arisen due to the bill.
Reuters reported that if the "Digital Asset Market Clarity Act of 2025" is signed into law, it will clarify the jurisdiction of financial regulators over this emerging industry, which is expected to accelerate the adoption of digital assets.
US Senator and Chairman of the Senate Banking Committee, Tim Scott, stated on the 8th that the committee will hold an executive meeting on May 14th at the Dirksen Senate Office Building in Washington D.C.
The cryptocurrency industry has been actively promoting this bill, believing it is crucial for the future development of digital assets in the United States and essential for resolving core issues that cryptocurrency companies have long faced. One of the main contents of the bill is to define when cryptocurrencies belong to securities, commodities, or other categories, providing clearer legal norms for the industry.
The bill also includes a provision aimed at resolving the fierce dispute between cryptocurrency companies and the banking industry. According to a compromise reached by Republican Senator Thom Tillis and Democratic Senator Angela Alsobrooks, given that stablecoins, which are pegged to the US dollar, are similar in nature to bank deposits, the issuance of customer rewards for idle holdings of such assets will be prohibited in the future.
Other activities related to stablecoins, such as making payments, will still be allowed. Banking trade groups have opposed this provision, arguing that it would give cryptocurrency companies too much operational leeway and could lead to funds flowing out of the regulated banking system.
The banking industry made a final push before the hearing, attempting to gain support from some Republican senators on the Senate Banking Committee, but it is currently unclear whether they will succeed. (Compiled by: Chen Yu-Ting) 1150511
Choose to stand with facts, every sponsorship you make is a force to protect press freedom.
Download the Central News Agency's "First-hand News" APP to stay updated with the latest news.
The text, images, and videos on this website may not be reproduced, publicly broadcast, or publicly transmitted and used without authorization.
(Central News Agency, Washington, 10th, comprehensive foreign report) The US Senate is preparing to review a long-awaited bill this week that will establish a regulatory framework for cryptocurrencies and potentially break the stalemate between cryptocurrency companies and the US banking industry that has arisen due to the bill.
Reuters reported that if the "Digital Asset Market Clarity Act of 2025" is signed into law, it will clarify the jurisdiction of financial regulators over this emerging industry, which is expected to accelerate the adoption of digital assets.
US Senator and Chairman of the Senate Banking Committee, Tim Scott, stated on the 8th that the committee will hold an executive meeting on May 14th at the Dirksen Senate Office Building in Washington D.C.
The cryptocurrency industry has been actively promoting this bill, believing it is crucial for the future development of digital assets in the United States and essential for resolving core issues that cryptocurrency companies have long faced. One of the main contents of the bill is to define when cryptocurrencies belong to securities, commodities, or other categories, providing clearer legal norms for the industry.
The bill also includes a provision aimed at resolving the fierce dispute between cryptocurrency companies and the banking industry. According to a compromise reached by Republican Senator Thom Tillis and Democratic Senator Angela Alsobrooks, given that stablecoins, which are pegged to the US dollar, are similar in nature to bank deposits, the issuance of customer rewards for idle holdings of such assets will be prohibited in the future.
Other activities related to stablecoins, such as making payments, will still be allowed. Banking trade groups have opposed this provision, arguing that it would give cryptocurrency companies too much operational leeway and could lead to funds flowing out of the regulated banking system.
The banking industry made a final push before the hearing, attempting to gain support from some Republican senators on the Senate Banking Committee, but it is currently unclear whether they will succeed. (Compiled by: Chen Yu-Ting) 1150511
Choose to stand with facts, every sponsorship you make is a force to protect press freedom.
Download the Central News Agency's "First-hand News" APP to stay updated with the latest news.
The text, images, and videos on this website may not be reproduced, publicly broadcast, or publicly transmitted and used without authorization.