ChainCatcher news, according to The Block, French Hill, chairman of the U.S. House Financial Services Committee, stated at the blockchain summit in Washington that a revised draft of the new cryptocurrency market structure bill will be announced in the coming days. This is an updated version of the "Financial Innovation and Technology for the 21st Century Act" (FIT21) that was passed by the House last year.The bill has not yet been formally introduced in this Congress, but it was passed in the House last year with the support of 71 Democratic lawmakers, including former Speaker Nancy Pelosi. Hill mentioned that the current draft has been adjusted based on various "technical opinions." The bill aims to grant the Commodity Futures Trading Commission (CFTC) more regulatory authority and funding to oversee the cryptocurrency spot market and "digital commodities," such as Bitcoin, and further clarify the role of the Securities and Exchange Commission (SEC).

ChainCatcher news, according to Cointelegraph, Blockchain Association CEO Kristin Smith stated at the 2025 Digital Assets Summit that U.S. lawmakers may pass legislation related to stablecoins and crypto market structure as early as August. Bo Hines, Executive Director of the President's Digital Asset Advisory Committee, also predicted that comprehensive stablecoin legislation would be introduced in the coming months.Democratic Congressman Ro Khanna stated at the summit on March 18 that he expects Congress to pass the bill in 2025, noting that about 70 to 80 Democrats support stablecoin legislation to promote the global use of the dollar and enhance U.S. influence.

ChainCatcher news, according to Cointelegraph, the new chairman of the U.S. House Financial Services Committee, French Hill, stated that the U.S. urgently needs a cryptocurrency market structure bill, which is the "top priority" for the Republican Party, and plans to introduce a comprehensive cryptocurrency market structure bill within the first 100 days of the upcoming legislative session.The approval of the market structure bill would eliminate the regulatory uncertainty that has plagued the U.S. cryptocurrency industry for years, and supportive legislation for cryptocurrency could pave the way for the U.S. to promote digital asset innovation and prevent cryptocurrency companies from outsourcing offshore. French Hill also criticized the current regulatory approach under SEC Chairman Gary Gensler.He said, "Under Chairman Gensler's leadership, we have not established traffic rules. We only have enforcement regulation. This does not help the U.S. succeed, nor does it aid technological advancement, Web3 innovation, or the application of blockchain in public companies and financial services."

ChainCatcher News, the U.S. House of Representatives plans to vote next week on a market structure bill called (FIT21), which includes new provisions regarding when cryptocurrencies should be considered securities. The House already has a group of representatives who support cryptocurrencies, and (FIT21) is likely to pass smoothly in the House, but it will face obstacles in the Senate.The 21st Century Financial Innovation and Technology (FIT21) Act aims to provide a clear regulatory framework for digital assets, addressing long-standing issues of market regulation and consumer protection.

ChainCatcher news, according to CryptoSlate, U.S. Republican Congressman Glenn Thompson (R-PA) stated that he is prepared to introduce his cryptocurrency bill in the House this week and believes that the recent Ripple ruling will help garner Democratic support for the bill.The Digital Asset Market Structure Bill was introduced by Thompson and Congressman Patrick McHenry, with support from Congressmen French Hill and Dusty Johnson. The bill was first submitted to the House for preliminary review on June 2 and is scheduled to enter the voting phase in July. The bill proposes a new regulatory framework that classifies cryptocurrencies as either securities or commodities, to be regulated by the U.S. Commodity Futures Trading Commission (CFTC) or the U.S. Securities and Exchange Commission (SEC).