Several US Senate members release market structure discussion draft, focusing on cryptocurrency regulation

According to Eleanor Terrett, members of the Senate Banking Committee, including Tim Scott, Lummis, Hagerty, and Moreno, have jointly released a highly anticipated market structure discussion draft. The draft has been postponed for release due to House affairs, covering issues such as token classification, regulatory fragmentation, banking, information disclosure, and illegal finance. It will be further improved based on the CLARITY bill passed by the House of Representatives and the Lumes Gillibrand proposal. Senators also publicly solicited opinions on 35 issues including SEC/CFTC regulatory authority, stablecoins, custody, investor protection, DeFi exemptions, and "pig killing" scams.