Gate News bot message, Fox News reporter Eleanor Terrett posted on X stating that the Senate Banking Committee is developing its version of the principles for the Crypto Assets market structure bill—this bill will be the focus of the subcommittee hearing led by Senator Cynthia Lummis next week.

Gate News bot message, U.S. Senate Majority Leader John Thune is prepared for a key procedural vote on the GENIUS Act (a landmark piece of stablecoin regulatory legislation) on Wednesday. According to an article published by the Senate Republican Cloakroom on X, Thune submitted a motion to end debate on the bill and its bipartisan amendments on Monday. Last month, lawmakers initiated the motion to end debate with a vote of 66 in favor and 32 against, paving the way for further discussion on the bipartisan stablecoin bill. Leaders in the crypto assets space hailed the vote as a "historic" victory that could help "ensure the dominance of the dollar."