According to a recent report by Blockworks, U.S. senators are under significant pressure as Congress reconvenes to address critical legislative deadlines set by former President Trump. The primary focus is the “Beautiful Act,” a comprehensive tax and budget proposal that narrowly passed the House with a 215-214 vote. This bill now faces scrutiny in the Senate, where Republican dissent could impede its progress. The leadership aims to finalize the bill with minimal amendments and secure the President’s signature by July 4th, underscoring the urgency of fiscal policy decisions.
Following this, lawmakers must turn their attention to the “GENIUS Act,” which is slated for passage before summer’s end. Notably, the legislation reflects a growing presidential interest in the cryptocurrency sector, signaling increased regulatory attention. This development presents a complex challenge in garnering bipartisan support, as both Republican and Democratic factions weigh the implications for the evolving digital asset market. Investors and industry stakeholders should monitor these legislative efforts closely for potential impacts on crypto regulation.