Despite the fact that the U.S. Congress is still in recess, supporters of the digital asset market regulation bill have not stopped their efforts. Tim Scott, chairman of the Senate Banking Committee, revealed at a blockchain forum in Jackson Hole, Wyoming, that the bill is expected to receive bipartisan support.

Scott stated that following the successful passage of the U.S. Stablecoin Bill (GENIUS), he is optimistic about the prospects of the Clarity for the Digital Asset Market (CLARITY). The senator from South Carolina is actively engaging with Democratic lawmakers outside of the Banking Committee to seek broader support.

"The GENIUS Act has received support from 18 Democrats," Scott noted, "I believe that in more complex market structure legislation, despite significant resistance, at least 12 to 18 Democrats may vote in favor."

It is worth noting that the House of Representatives passed the CLARITY Act on July 17. Scott revealed that the Senate Banking Committee plans to introduce its version of the digital asset market structure bill by the end of September. A Senate bill draft released in July, named the Responsible Financial Innovation Act, aims to expand the scope of the CLARITY Act but may differ from the House version.

Given that the Republican Party holds only a slim majority in the Senate, they will need to seek the support of some Democratic lawmakers to pass legislation on the structure of the cryptocurrency market. Scott's remarks at the forum indicated that he is cautiously optimistic about reaching a bipartisan consensus.

This legislative process reflects the growing attention of the U.S. political scene towards the regulation of digital assets. As cryptocurrencies and Blockchain technology continue to evolve, establishing a clear and comprehensive regulatory framework has become increasingly important. However, there are still many challenges in how to balance innovation and regulation, which will be key issues to focus on in future bill discussions.

As the reconvening of Congress in September approaches, industry players and investors will closely monitor the progress of this bill. Regardless of the final outcome, this discussion on digital asset regulation will undoubtedly have a profound impact on the cryptocurrency ecosystem in the United States and globally.