The US Senate Agriculture Committee has released its long-anticipated discussion draft on crypto market structure legislation, signaling a crucial step towards crafting regulations for the burgeoning cryptocurrency sector. 🤝 The bipartisan draft, jointly authored by Republican Chair John Boozman and Democrat Senator Cory Booker, provides a framework for how the industry will be regulated in Congress. Notably, it outlines boundaries for the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC), leaving the final authority for setting regulatory parameters within Congress. 🏛️ While both agencies previously received guidance on crypto regulation under the Trump administration’s deregulation efforts, this draft clarifies their roles specifically for digital commodity trading.