Senators Seek ‘Light Touch’ for Crypto Market as Democrats Balk
(Bloomberg) — A key US Senate panel took up the debate over proposed regulation of digital assets, with Republicans calling for a soft approach and Democrats warning about potential loopholes and conflicts of interest.
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The Senate Banking Committee’s hearing Wednesday aimed to keep legislation for crypto-market structure on track for a Sept. 30 panel deadline. The House is set to consider its own measure next week.
“Our job is to set clear, light-touch guardrails to protect investors, stop fraud, and allow responsible innovation to flourish,” Senate Banking Committee Chairman Tim Scott said. He noted that legislation should clearly define which tokens are securities and ensure appropriate…
