US Senate Rushes to Pass Crypto Law Proposal Amid Regulatory Uncertainty

US Senate is racing to reach an agreement on a crypto law proposal just days before August. David Schwartz, in response to regulatory uncertainty, urged lawmakers to pass the bill as soon as possible.

Brad Garlinghouse noted that the sector can no longer wait for clarity and pointed out the ongoing debate over the legal status of $XRP ($1.10 · Live).

The proposal would alter the balance between SEC and CFTC regulations, while also sparking discussions on stablecoin and money laundering rules.