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Senate GOP Unveil Framework for Crypto Market Structure Bill

Crypto News

Republican senators on Tuesday (June 24) unveiled a set of principles to serve as a framework for the development of legislation for digital assets.

Senate Banking Chairman Tim Scott, R-S.C., Subcommittee on Digital Assets Chair Cynthia Lummis, R-Wyo., Sen. Thom Tillis, R-N.C., and Sen. Bill Hagerty, R-Tenn., are spearheading the efforts.

“These principles will serve as an important baseline for negotiations on this bill, and I’m hopeful my colleagues will put politics aside and provide long-overdue clarity for digital asset regulation,” Scott said in a statement. 

According to the framework, the bill will define when crypto is a commodity or a security, clearly delineate jurisdiction among regulators and lighten the Securities…

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