Senate Banking Committee pushes for rapid legislative action on crypto market framework
The Senate Banking Committee released a seven-point framework for digital asset market structure and heard testimony urging Congress to translate those principles into statute without delay on June 23.
Committee Chair Tim Scott and Senators Cynthia Lummis, Thom Tillis, and Bill Hagerty set out a plan that draws a statutory line between digital asset securities and commodities. However, there is no draft of a bill as of press time.
Furthermore, the plan allocates jurisdiction to existing regulators instead of creating a single crypto agency while updating registration paths so compliant issuers can raise capital under an exemption tailored to distributed-ledger projects.
The document also calls for rules that preserve self-custody,…
