According to @WhiteHouse, the U.S. Senate has advanced a major budget bill without including a crypto tax provision championed by Senator Cynthia Lummis, which would have waived capital gains taxes on small-scale transactions. While this specific tax relief effort is stalled for now, significant bipartisan progress on a comprehensive digital asset framework is occurring in the House of Representatives. Lawmakers there have advanced key legislation, including the FIT21 Act, the STABLE Act, and the CLARITY Act, which aim to establish clear regulatory jurisdictions for the SEC and CFTC, regulate stablecoins, and create a functional framework for digital assets to foster innovation. This legislative push seeks to provide the regulatory certainty that the industry has been lacking. Amid these developments, the crypto market shows some volatility, with Ethereum (ETH) trading at approximately $2,516 against USDT, marking a 24-hour decline of over 2.3%.

According to @cas_abbe, the stablecoin sector is experiencing significant mainstream and institutional adoption, creating positive tailwinds for the crypto market. Major retailers Amazon and Walmart are reportedly considering launching their own stablecoins to reduce transaction fees, a move contingent on the passage of the GENIUS Act, as reported by the Wall Street Journal. This legislation, along with the CLARITY market structure bill, is advancing through U.S. Congress, promising much-needed regulatory clarity for the roles of the SEC and CFTC. Further signaling institutional interest, European banking giant Societe Generale has announced its own stablecoin on the Ethereum (ETH) and Solana (SOL) blockchains, while Jack Ma's Ant Group has applied for stablecoin licenses in Hong Kong and Singapore. In response to these developments, new crypto investment vehicles are emerging, such as a $750 million fund headed by Anthony Pompliano. The sentiment is echoed by legendary investor Paul Tudor Jones, who advocates for including Bitcoin (BTC) in every investment portfolio.

According to @WhiteHouse, the U.S. Senate has advanced a major budget bill without including a crypto-friendly tax provision proposed by Senator Cynthia Lummis, which aimed to waive capital gains taxes on small-scale digital asset transactions. While this specific tax relief effort stalls, significant progress is being made on a broader regulatory framework. The source highlights the bipartisan House passage of the Financial Innovation and Technology for the 21st Century (FIT21) Act, which aims to clarify the jurisdictions of the SEC and CFTC. Furthermore, the STABLE Act for payment stablecoins and the CLARITY Act for digital asset classification have both advanced from House committees, forming what is described as the most comprehensive digital asset framework Congress has ever considered. Amid these regulatory developments, Ethereum (ETH) has demonstrated strong positive momentum, with its price surging over 6% in the last 24 hours to approximately $2,600, as seen in the ETHUSDT trading pair, which reached a high of $2,615.26.

According to the White House, the U.S. crypto landscape is facing two pivotal developments with significant trading implications. Firstly, the Supreme Court has declined to review a case challenging the Internal Revenue Service's (IRS) authority to access user data from exchanges like Coinbase, effectively upholding the agency's power to use a "John Doe summons" for tax enforcement purposes. This decision reinforces the third-party doctrine, meaning traders' data shared with platforms has limited privacy protection, potentially leading to increased tax scrutiny. Secondly, and in contrast, Congress is making significant bipartisan progress on a comprehensive regulatory framework. The White House highlighted the advancement of the FIT21, STABLE, and CLARITY Acts, which aim to establish clear jurisdictional lines between the SEC and CFTC, regulate stablecoins, and create a functional framework for digital assets. This legislative momentum is viewed as a critical step toward reducing regulatory uncertainty, which could foster innovation and attract institutional investment into the U.S. crypto market.

According to @WhiteHouse, the United States is making significant strides toward establishing a comprehensive regulatory framework for digital assets through key bipartisan legislation like the GENIUS, CLARITY, and STABLE Acts. The source states that these bills aim to provide critical clarity, particularly for stablecoins, by mandating high-quality liquid reserves and regular audits for issuers, which could enhance the stability of the over $190 billion dollar-backed stablecoin market. For traders and investors, this legislative push is designed to end the 'regulation by enforcement' approach by clearly defining the jurisdictional boundaries between the SEC and CFTC. This move is expected to reduce legal uncertainty, encourage crypto innovation within the US, and ultimately reinforce the U.S. dollar's dominance in the evolving global financial landscape.

According to Mark Palmer of Benchmark, Coinbase (COIN) is set to gain from the U.S. CLARITY Act, which aims to create a clear regulatory framework for digital assets, potentially boosting institutional adoption and staking. Benchmark raised its price target to $421 from $310 and reiterated a buy rating, noting that regulatory progress could drive growth despite a recent 1.6% stock dip due to Middle East conflicts, following a 23% surge last week from European regulatory approvals.

According to Tom Emmer (@GOPMajorityWhip), the Blockchain Regulatory Certainty Act, which clarifies that entities not holding consumer funds are not classified as money transmitters, has been officially added to the CLARITY Act (source: Tom Emmer on Twitter, June 9, 2025). This legislative update is significant for cryptocurrency traders, as it reduces regulatory uncertainty for non-custodial crypto services such as decentralized exchanges and wallet providers. By explicitly excluding non-custodial platforms from money transmitter regulations, the act is expected to lower compliance costs and foster innovation in the crypto market, potentially increasing trading activity and liquidity across decentralized platforms (source: Tom Emmer on Twitter, June 9, 2025).

According to @collinbrownXRP on Twitter, a joint statement is expected soon from eight leading crypto trade associations, Uniswap, and Jump Crypto, signaling strong industry-wide support for the inclusion of the Blockchain Regulatory Certainty Act (BRCA) in the latest version of the CLARITY Act. This regulatory backing could reduce compliance uncertainty, potentially increasing institutional adoption and trading volumes for major cryptocurrencies as clearer guidelines emerge. Traders should monitor price reactions for tokens associated with Uniswap and Jump Crypto, as regulatory clarity often leads to increased market confidence and liquidity. Source: @collinbrownXRP on Twitter.

According to Eleanor Terrett, the U.S. House of Representatives is set to hold a markup for the CLARITY Act on Tuesday, while the cryptocurrency industry voices concerns about perceived favoritism toward traditional finance (TradFi). At the same time, Democrats are highlighting former President Trump's connections to the crypto sector in a special hearing. This legislative activity is expected to influence regulatory clarity and could drive volatility in major cryptocurrencies, especially as the industry pushes back against policies that may restrict digital asset innovation. Traders should monitor these developments closely as they may impact short-term crypto price movements and long-term regulatory outlooks. (Source: Eleanor Terrett, cryptoinamerica.com)

According to Eleanor Terrett, the upcoming week features key crypto policy events with direct trading implications. The final SEC industry roundtable on DeFi is scheduled for Monday, providing potential regulatory clarity that could influence DeFi token valuations and investor sentiment (source: @EleanorTerrett, Twitter, June 5, 2025). On Tuesday, the House will mark up the CLARITY Act and hold a nomination hearing for Brian Quintenz, both pivotal for regulatory frameworks affecting crypto market structure. Traders should monitor these events closely as outcomes could drive volatility in governance and DeFi tokens, and set expectations for future US crypto policy direction.

According to @EleanorTerrett, the US House Financial Services Committee (@FinancialCmte) has officially scheduled a markup session for the CLARITY Act, a significant crypto market structure bill, on June 10 at 10:00 AM EST (source: @EleanorTerrett, Twitter, June 5, 2025). This legislative action is a crucial step towards regulatory clarity for digital assets, and traders should closely monitor the session, as decisions made could impact crypto market sentiment and price volatility, particularly for major cryptocurrencies like Bitcoin and Ethereum.

According to Jake Chervinsky (@jchervinsky), during the Congressional hearing on the CLARITY Act, anti-crypto legislators have dismissed the bill as 'the complexity act,' but have not provided substantial critiques (source: Twitter, June 4, 2025). This signals that regulatory resistance remains largely rhetorical rather than policy-driven, indicating that no immediate restrictive measures are expected. For traders, the lack of concrete opposition suggests a stable short-term environment for cryptocurrencies, as the market continues to monitor legislative developments without pricing in new regulatory risks.

According to Eleanor Terrett, the introduction of the bipartisan CLARITY Act alongside the SEC's new staking guidance clarifies regulatory expectations for crypto staking services, directly impacting major tokens such as Ethereum and Solana. Traders should note that the legislation aims to provide clearer frameworks for exchanges and DeFi protocols, reducing uncertainty and potentially boosting institutional participation. These regulatory developments are expected to influence short-term volatility and long-term market stability, with increased compliance likely to drive liquidity and price action in staking-enabled cryptocurrencies. Source: Eleanor Terrett via cryptoinamerica.com, May 30, 2025.

According to Tom Emmer (@GOPMajorityWhip), the CLARITY Act is set to provide American innovators with the regulatory certainty needed to develop digital assets and blockchain projects within the U.S., ensuring that the future of the internet reflects American values (Source: Twitter/@GOPMajorityWhip, May 29, 2025). This legislation, if passed, could significantly reduce compliance risks for crypto startups and exchanges, making the U.S. more attractive for blockchain investment and potentially boosting trading activity for major cryptocurrencies. Traders should monitor the Act's progress, as regulatory clarity is historically linked to increased market participation and liquidity.