Senate Unveils Updated Draft of Crypto Market Regulation Bill

The U.S. Senate Banking Committee, led by Tim Scott, has released an updated draft bill addressing crypto market structure and regulation. This draft aims to enhance clarity in the digital asset space, impacting the industry’s development landscape. Key points include: enhanced developer protections to encourage confidence; strengthened roles for the SEC and CFTC in regulating cryptocurrencies; clarification of ancillary assets and NFT transactions; and potential for increased liquidity and transaction volume.