US Lawmakers Explore Amendments to Cryptocurrency Market Structure Bill Ahead of Markup Hearing
June 9, 2025
By Turner Wright
In a significant step towards regulating the cryptocurrency landscape in the United States, lawmakers on the House Financial Services Committee are preparing for a markup hearing on a proposed cryptocurrency market structure bill. Scheduled for Tuesday, this hearing could see the introduction of key amendments aimed at safeguarding blockchain developers from stringent financial regulations.
Proposed Amendments to Enhance Developer Protections
Committee Chair French Hill has introduced an amendment to the Digital Asset Market Clarity Act of 2025, commonly referred to as the CLARITY Act. The amendment seeks to clarify the regulatory treatment of certain non-controlling blockchain developers, proposing that these individuals and service providers should not be classified as money transmitters. This classification exemption would mean they would not be subject to existing registration requirements that typically govern money transmission activities.
The inclusion of this provision is thought to stem from the recently proposed Blockchain Regulatory Certainty Act, which was championed by Representative Tom Emmer and a bipartisan group of lawmakers back in May. Advocacy groups, including the Blockchain Association, have been vocal about the need for legislators to synchronize the purposes of the two bills to effectively address the regulatory needs of the cryptocurrency sector.
Key Discussions at the Upcoming Markup Hearing
The committee’s markup hearing is expected to be a decisive moment for the CLARITY Act, as amendments will be discussed and voted upon. Following this process, the bill could potentially move to the wider House chamber for further deliberations.
In parallel, the Senate is expected to initiate voting on the GENIUS Act—another critical piece of legislation aimed at regulating payment stablecoins. Senate Majority Leader John Thune has indicated his desire to conclude discussions on this bill within the week, showcasing the momentum behind stablecoin regulation.
Paul Grewal, Chief Legal Officer at Coinbase, acknowledged the bipartisan progress on stablecoin legislation, emphasizing the importance of establishing sound regulations to foster long-term stability and growth in the cryptocurrency market.
Political Divisions Remain
Despite the evident bipartisan support for the CLARITY Act, some Democratic lawmakers, including Representative Maxine Waters, have expressed opposition due to concerns over the bill’s implications. Waters, who leads the committee’s minority party, has raised alarms over allegations linking President Donald Trump to corruption in the crypto industry. She criticized the CLARITY Act as lacking provisions to combat these alleged issues effectively.
However, there is some support among Democrats for the legislation. Representative Ritchie Torres, who has previously championed reforms related to the crypto sector, co-sponsors both the CLARITY Act and the Blockchain Regulatory Certainty Act. At the time of publication, Cointelegraph had reached out for confirmation of his position but had not yet received a response.
Conclusion
As the cryptocurrency regulatory debate heats up, both the House Financial Services Committee and the Senate are poised to make critical decisions that could shape the future of digital assets in the U.S. The forthcoming markup hearing on the CLARITY Act will be instrumental in determining whether necessary protections for blockchain developers will be integrated into the overarching legislative framework designed to regulate the rapidly evolving crypto market.
With growing interest and investment in cryptocurrencies, the outcomes of these legislative efforts will be closely monitored by industry stakeholders, advocacy groups, and the financial community at large.
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