BlockBeats News, June 25th. According to cryptoinamerica, Republican lawmakers and industry insiders are engaged in fierce gameplay on the advancement strategy of a key crypto bill. The current issue is—"Should it be passed separately or packaged together?" The Senate-passed "GENIUS Act" was transferred to the House of Representatives on Monday, but legislators are still debating whether to advance it as a standalone bill or to resubmit it to the Senate for revision bundled with the House's "Market Structure Act."
House Majority Whip Tom Emmer stated to Punchbowl News on Tuesday that the "GENIUS Act" is likely to pass the House, "provided that it progresses concurrently with the 'CLARITY Act' (the House's market structure legislation)." House Majority Leader Steve Scalise emphasized to CNBC that merging the two bills "aligns with industry demands."
Currently, the "packaging faction," represented by Coinbase and venture capital giant a16z, believes that bundling the legislation is the only feasible path to completing market structure reform this year. The "step-by-step faction," led by the DeFi community, advocates for swiftly passing the "GENIUS Act" first to achieve a phased victory.
