Congress News

Michael Selig summarized his first 100 days overseeing the commodities regulator since being confirmed by the US Senate in December.

The CLARITY Act stalled in the Senate after banks, crypto firms and lawmakers failed to reach an agreement on key provisions like allowing stablecoin yields.

Representative Stephen Lynch voiced concerns about the direction of the SEC under Donald Trump, citing dropped investigations and enforcement actions on crypto companies.

The Wyoming Republican said the main issue holding up the bill's passage was stablecoin yield, adding that she believed a provision on DeFi had been “put to bed.”

The BETS OFF Act from two Democratic lawmakers came in response to several “highly unusual bets” on the US-Israel conflict with Iran, suggesting insider information.

Senator John Thune reportedly said that the chamber would prioritize the SAVE America Act before addressing a vote on bipartisan bills like crypto market structure.

Senator Elizabeth Warren pointed to the SEC's recent settlement with Tron founder Justin Sun, saying “any crypto legislation moving through Congress“ should address corruption.

Trump has urged banking groups to “make a good deal” with the crypto industry and said undermining the GENIUS Act is “unacceptable.”

While the White House has hosted three meetings to discuss how to address stablecoin yield in the Senate's market structure bill, there are no signs of a solution.

The industry-supported Promoting Innovation in Blockchain Development Act could be a solution by Congress to push back against criminalizing writing code.

The Blockchain Association urged Congress to exempt low-dollar crypto transactions and tax mining and staking rewards upon sale.

House Democrats are pressing Treasury Secretary Scott Bessent over World Liberty Financial’s push for a national trust bank charter, citing systemic risk.

A transaction-level analysis of 92 community banks found $78.3 million in net deposits moved to Coinbase over 13 months, with money market accounts losing most outflows.

The Hyperliquid Policy Center says it will advocate on Capitol Hill for policies, particularly those related to perpetual derivatives and blockchain infrastructure.

The CLARITY Act moved quickly through the House of Representatives since it was introduced in June 2025 but has been plagued with delays in the Senate.