Senate Banking Committee Introduces Draft Bill on Crypto Market Structure
The Senate Banking Committee has released a discussion draft bill focused on the U.S. crypto market structure, aligning with the House's Clarity Act.
Key Points
- The Responsible Financial Innovation Act of 2025 aims to clarify SEC oversight of digital assets.
- The term "ancillary asset" is introduced for better regulatory understanding.
- The public has until early August to provide feedback on the draft.
- The Senate's approach differs from the House, particularly regarding the SEC's role.
- Coordination between the Agriculture and Banking Committees is expected for comprehensive legislation.
- Democrat support will be necessary due to the Senate's 60-vote requirement for bill advancement.
Additional News
- Crypto companies spent nearly $7 million lobbying in Q2 2025, with Coinbase contributing close to $1 million.
- U.S. President Donald Trump visited the Federal Reserve, impacting renovation costs during discussions with Fed Chair Jerome Powell.
- Galaxy Digital published an overview of Trump's crypto policies from his first six months in office.