Lawmakers from the U.S. House Financial Services Committee are expected to hold a markup hearing on Tuesday (June 10) to review a cryptocurrency market structure bill that may be amended to increase protections for blockchain developers.

According to a notice released ahead of the hearing, Committee Chairman French Hill proposed an amendment to the "2025 Digital Asset Market Clarity Act" (the "CLARITY Act"), focusing on the "treatment of certain non-controlling blockchain developers." The amendment proposes that under potential market structure legislation, certain blockchain developers or service providers would not be considered money transmitters and would not be subject to its registration requirements.

This provision aimed at blockchain developers appears to stem from the "Blockchain Regulatory Certainty Act," which was initiated by Congressman Tom Emmer and a group of bipartisan lawmakers in May. Many crypto advocacy groups, including the Blockchain Association, have called on lawmakers to merge these two bills.

Tuesday's markup hearing will include key discussions and votes on the amendments to the CLARITY Act, after which the bill may be submitted to the full House. In the Senate, lawmakers are expected to vote soon on the "GENIUS Act," which aims to regulate payment stablecoins. Senate Majority Leader John Thune has reportedly expressed his hope that the bill "will be completed within this week."

Coinbase Chief Legal Officer Paul Grewal stated to Cointelegraph on May 27, "I think there has been incredible progress on stablecoin legislation, largely because there is bipartisan agreement that creating reasonable stablecoin rules is in the best interest of the United States." He added, "The market structure bill is equally important for long-term stability and growth."

Senior member of the House Financial Services Committee, Congresswoman Maxine Waters, has not indicated that she and many other Democrats will support the CLARITY Act when the time comes. The California lawmaker organized a minority day hearing on Friday to discuss corruption allegations arising from former President Donald Trump's connections to the crypto industry.

Waters stated on Friday, "There is not a single provision in the CLARITY Act that addresses the criminal behavior I have outlined. In fact, this bill would only serve to legalize it."

However, at least one previously advocating for impactful legislation in the crypto industry has indicated he will support the market structure bill. Ritchie Torres is a co-sponsor of both the CLARITY Act and the Blockchain Regulatory Certainty Act. Cointelegraph has reached out to Torres' representatives but has not received a response as of publication.

Related: Due to MiCA causing uncertainty in the industry, Europe will implement regulations on decentralized finance (DeFi) in 2026.

Original: “U.S. Lawmakers Propose Amendments to Crypto Market Structure Bill Ahead of Markup Hearing”

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