Several U.S. Senate Banking Committee Members Release Draft Discussion on Crypto Market Structure

According to a report by Jinse Finance, cryptocurrency journalist Eleanor Terrett has revealed that U.S. Senate Banking Committee Chairman Tim Scott, along with Senators Cynthia Lummis, Bill Hagerty, and Bernie Moreno, have jointly released the long-awaited draft for discussion on crypto market structure. The draft was originally scheduled for release last week but was delayed due to internal disputes within the House of Representatives. Building on the already passed House CLARITY Act and the Lummis-Gillibrand bill, the draft introduces new regulations regarding token classification, regulatory decentralization, banking operations, information disclosure, and illicit finance.