US Senate Democrats offer competing framework for crypto market structure

The group of 12 senators stressed the need for a bipartisan solution to market structure as Republicans on the banking committee plan to pass a bill this month.

A group of Democratic US senators has released its own version of guidelines to influence legislation to establish a crypto market structure, focusing on taking time toward a “strong, bipartisan outcome.” 

In a Tuesday notice, 12 Democratic senators, several of whom are on the banking committee, unveiled a framework for market structure legislation in response to Republicans’ plans.

Like the Republicans’ latest draft released on Sept. 5, the Democrats’ framework includes provisions for regulatory clarity and laying out rules by which the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) could handle digital assets. 

Read more