Senate Delays Crypto Market Structure Bill Draft Amid Ongoing Disagreements
- The Senate’s drafting of the crypto market structure bill is behind schedule, with markup potentially delayed until December.
- Lawmakers from the Banking and Agriculture Committees are working to resolve disagreements on regulations for digital assets by the CFTC and SEC.
- A version from the Senate Agriculture Committee will include “bracketed” sections, indicating unresolved issues related to DeFi and stablecoin oversight.
- Bipartisan talks have been described as productive, but recent feedback has led to last-minute revisions in the draft.
- The outcome of this bill aims to clarify the distinction between commodities and securities, impacting exchanges and stablecoin issuers significantly.
The delays in finalizing the crypto market structure bill reflect ongoing negotiations among lawmakers regarding digital asset regulation, particularly concerning stablecoins and DeFi. With Congress heading into recess, a December markup is now anticipated.
As of now, no finalized draft has emerged despite expectations for completion this week, underscoring the complexities involved in shaping U.S. digital asset legislation. (Source)
