The US Senate may advance the review of a bill on the structure of the digital asset market.
TL;DR
The US Senate Banking Committee may review a digital asset market structure bill in January, delayed by DeFi concerns and a government shutdown. It aims to give the CFTC more regulatory power, with potential SEC collaboration.
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According to ChainCatcher, the U.S. Senate Banking Committee is expected to consider the Digital Asset Market Structure Bill in the second week of January. The bill's progress has been delayed due to concerns from Democratic lawmakers about decentralized finance and the longest government shutdown in U.S. history.
Cody Carbone, CEO of the digital asset advocacy group The Digital Chamber, said the Senate will consider market structure legislation at least once in the second week of January. The bill, which passed the U.S. House of Representatives in July, is expected to grant the Commodity Futures Trading Commission (CFTC) more power to regulate digital assets. Early drafts of the Senate bill indicated that the CFTC and the Securities and Exchange Commission (SEC) would cooperate more on cryptocurrency regulation.