Unit 4 · Rules and markets
How does a bill become law?
- 2 min read
- 3 sections
- 3 questions · +25 XP
In the US a bill must pass both chambers and be signed by the president; in Korea it goes through a standing committee, the Legislation and Judiciary Committee and the plenary, then promulgation. First check which "passed" the headline means.
US: both chambers, then a signature
Introduction → committee → House vote → Senate vote → president’s signature. If the chambers pass different texts, they must reconcile them. The stablecoin law (GENIUS Act) was signed in July 2025.
Korea: the standing committee comes first
Introduction → standing committee review and vote → Legislation and Judiciary Committee → plenary → sent to the government and promulgated. Crypto bills usually go to the National Policy Committee, which often merges several bills into one alternative.
After the law come agency rules
Once a law sets the frame, agencies such as the SEC, CFTC or Korea’s FSC write detailed rules. A proposed rule opens a public comment period; final rules come after it closes. The "comment deadline" on our regulation page is that date.
See it on the site