Comprehensive Crypto Market Structure Bill Introduced in US Senate
US senators have released the text of a major cryptocurrency market structure bill, marking a pivotal step toward establishing federal oversight. The proposed law aims to assign clear regulatory jurisdictions, which could foster greater institutional participation in digital assets.
The crypto industry has repeatedly called for this type of legislative action, describing it as vital for providing legal certainty and ensuring the US remains competitive in financial technology. The bill directly tackles longstanding regulatory ambiguities.
Among its core features, the legislation sets out criteria to classify digital tokens as securities, commodities, or another asset type. This foundational definition is considered crucial for the entire regulatory edifice.
Furthermore, the draft grants regulatory authority over spot markets for cryptocurrencies like Bitcoin and Ethereum to the US Commodity Futures Trading Commission. This delineates a separation from the securities-focused purview of the US Securities and Exchange Commission.
The bill also provides a technical adjustment to last year’s stablecoin law, delivering a fix that the traditional banking industry had been seeking within the new federal framework for payment stablecoins.
