Jackson Hole, Wyo. – The American senator Tim Scott, president of the Senate banks committee, provides that up to 18 Democrats could vote in favor of the Senate’s response to the law on the clarity of the digital asset market.
“I believe that we will have between 12 and 18 democrats at least open to vote for the structure of the market,” said Scott on stage at the Salt conference in Jackson Hole, Wyoming on Tuesday.
“The forces against this, let me say clearly, like senator Elizabeth Warren, exercised by the Democrats who wanted to participate, it is a real strength to overcome,” he said.
While the Congress has adopted – and US President Donald Trump signed – the engineering law, which covers stablescoins, is the market structure legislation that industry really provides. Whatever the legislation on the structure of the market ultimately, the law will dictate how the Securities and Exchange Commission (SECOND) and commodity future trading commission (CFTC) Will supervise digital assets in the United States, including Spot Cryptographic Markets.
The legislation should be finalized before the end of September, previously told Scott the former White House cryptography advisor, Bo Hines.
The Senatoric Banking Committee presented a discussion bill in July to explain how the Securities and Exchange Commission (SECOND) should supervise digital assets after the room voted to advance its law on clarity the previous week. The Senate of Agriculture Committee, which must also support this legislation, has not yet published discussions.
The two bills will need contributions from the Democratic Party, because at least 60 votes are necessary for the bill to go through the Senate. In addition, the Chamber and the Senate must vote on the same bill or reconcile the differences between their bills. The discussion drafts of the senatorial banking committee have so far greatly diverge from the law on the clarity of the Chamber.
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