US Senate Republicans say market structure bill doesn‘t ‘serve industry interests‘

Republicans called a digital asset market structure bill a bipartisan effort despite pushback from some Democrats on certain provisions.

Cryptocurrency industry leaders, US lawmakers and experts are weighing in on a digital asset market structure bill set for a markup in the Senate Banking Committee on Thursday, and each group has voiced different views about whether to support or oppose certain aspects of the legislation.

In a Tuesday notice, Republicans on the Banking Committee, led by Senator Tim Scott, released a “myth vs. fact” sheet on the market structure bill, called the CLARITY Act. According to lawmakers in majority control of Congress, it was a “myth” that the legislation “was written by industry and serves industry interests,” claiming that it focused on investor protection.

“The bill has been shaped by years of bipartisan work, extensive engagement with regulators and law enforcement, and a focus on public-interest outcomes,” said Senate Republicans. “It strengthens national security, protects investors, and ensures that innovation occurs under clear, enforceable rules.”

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