The US Senate has unveiled a bipartisan draft bill aiming to clarify crypto regulations, specifically outlining the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC)’s respective roles. This move brings clarity to the debate about whether crypto assets should fall under the CFTC or SEC. 🎧 Key provisions include investor protection measures, including mandatory registration for crypto firms with the CFTC. 🤝 The draft also exempts open-source developers and self-custody wallets from regulatory requirements, recognizing their role in fostering innovation and user control. This act builds upon the House’s passed CLARITY Act, suggesting progress towards a unified framework for digital assets.