U.S. lawmakers are advancing legislation aimed at regulating the cryptocurrency industry, with a focus on stablecoins and broader market structure. Representatives Tom Emmer and Darren Soto have reintroduced the Securities Clarity Act, signaling Congress's intent to provide regulatory clarity for cryptocurrencies. This move aligns with the Trump administration's goal to make the U.S. the 'crypto capital of the world.' Simultaneously, the Senate Banking Committee has approved the GENIUS Act, which sets standards for regulating dollar-based stablecoin issuers and transactions. This legislative progress comes as President Donald Trump's administration pushes for a more favorable regulatory environment for digital assets, with his nominee for SEC chair, Paul Atkins, known for his pro-crypto stance. Trump, who launched his own crypto meme coin days before taking office, has selected Atkins, a known advocate for the crypto industry. In addition to legislative efforts, the crypto industry is seeking to address regulatory challenges. A coalition of 34 crypto firms, including Coinbase and Kraken, has urged Congress to intervene in what they perceive as the Department of Justice's (DOJ) overreach in interpreting money transmission laws. This action follows concerns that the DOJ's stance could hinder open-source development in the U.S.