Senate committee unveils crypto market structure bill draft
The Senate Agriculture Committee has released a draft bill outlining the proposed regulatory jurisdiction of the country’s two main financial market regulators.
The US Senate Agriculture Committee has released its long-awaited discussion draft of crypto market structure laws, bringing Congress closer to passing legislation outlining how the crypto sector will be regulated.
Republican Agriculture Chair John Boozman and Democrat Senator Cory Booker released the draft on Monday, which includes brackets around sections of the bill that lawmakers are still negotiating.
The bill aims to outline the limits of the Commodity Futures Trading Commission and the Securities and Exchange Commission’s power to regulate crypto. Only Congress can set the agencies’ regulatory boundaries, and both have shared guidance to companies about crypto under the Trump administration’s deregulation push.