Senator Lummis Pushes for Crypto Bill Draft Before Holiday Break

Bipartisan discussions on a crypto market structure bill are ongoing, with disagreements about the timing of a committee vote.
Sen. Cynthia Lummis, a key negotiator, hopes to release a new draft this week and aims for a markup before the holiday break.
Lummis emphasizes the urgency of progressing with the legislation, suggesting a markup next week to allow for a holiday break.
Senate Banking Republicans proposed over 30 amendments to a previous draft, trying to maintain key elements while adapting to Democratic feedback.
The GOP proposal includes 38 concessions, some addressing White House concerns, particularly regarding SEC and CFTC appointments.
Concessions cover ethics provisions, consumer protection standards for digital assets, bankruptcy language, federal standards for crypto ATMs, and risk management for intermediaries.
Previous ethics proposals were rejected by the White House; further collaboration with Democrats is planned to revisit these issues.

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