U.S. Congress to Focus on Cryptocurrency Market Legislation

According to Foresight News, the U.S. Congress is set to prioritize cryptocurrency market structure legislation as it resumes work after a recess. The Senate Banking Committee is expected to revise a draft discussion on market structure by the end of September. Concurrently, the Senate Agriculture Committee plans to release a draft covering the Commodity Futures Trading Commission's (CFTC) regulatory aspects. Senator Cynthia Lummis has indicated that the market structure bill is anticipated to be signed into law by U.S. President Donald Trump before Christmas this year. Additionally, the Small Business Administration has directed banks to restore services to clients who were unlawfully 'de-banked' and to amend related policies by December 5. The Consumer Financial Protection Bureau has also acknowledged instances of power abuse against certain companies during the Biden administration.