Updated Crypto Market Structure Bill Release Imminent, Sources Say

TLDR

• The U.S. Senate Agriculture Committee has completed its work on an updated draft of the Crypto Market Structure Bill.
• The committee plans to release the new version within days, possibly this week or early next week.
• The Crypto Market Structure Bill establishes a dual regulatory framework with the CFTC overseeing digital commodities and the SEC managing securities.
• The legislation introduces three asset categories, including digital commodities, investment contract assets, and permitted payment stablecoins.
• The September draft removed automatic securities classification for staking, DePIN, and airdrops.

The U.S. Senate Agriculture Committee has completed its work on an updated draft of the Crypto Market Structure Bill. The committee is expected to release the new version within days, according to industry sources. This bipartisan legislation aims to establish clear regulatory guidelines for digital assets in the United States.

Committee Finalizes Crypto Market Structure Bill Draft

Journalist Eleanor Terrett reports the committee could publish the updated Crypto Market Structure Bill this week. However, some insiders suggest final adjustments may push the release into next week. The Senate Agriculture Committee has finalized the commodities section.

The Crypto Market Structure Bill follows recent industry roundtables held last week. Bipartisan negotiations between Senate Banking Committee staff members have resumed following those meetings. Both committees are working together to advance the legislation forward.

Lawmakers have been refining the Crypto Market Structure Bill for several months now. The bill has undergone multiple revisions to address industry concerns and regulatory gaps. This latest draft includes updated language on various digital asset categories.

Regulatory Framework And Asset Classification

The Crypto Market Structure Bill creates a dual regulatory system for digital assets. The Commodity Futures Trading Commission will oversee digital commodities and spot markets. The Securities and Exchange Commission will maintain authority over assets classified as securities.

The legislation introduces three distinct categories for digital assets under the new framework. These categories include digital commodities, investment contract assets, and permitted payment stablecoins. This classification system determines which federal agency has jurisdiction over each asset type.

The Crypto Market Structure Bill provides clear compliance expectations for market participants. September’s draft removed automatic securities classification for staking, DePIN, and airdrops. These changes address long-standing concerns from the cryptocurrency industry about regulatory overreach.

Bipartisan Progress After Political Tensions

The Crypto Market Structure Bill gained renewed momentum after months of partisan disagreements. Senate Democrats previously introduced the CLARITY Act, which proposed new regulations for DeFi. That proposal temporarily halted progress on the broader market structure legislation.

The CLARITY Act would have classified DeFi protocol deployers as intermediaries. Republican lawmakers and developers strongly opposed this categorization. Critics argued the proposal could criminalize open-source software development and innovation.

Recent roundtable meetings have helped bridge the partisan divide on crypto regulation. Coinbase and Ripple executives participated in these discussions with lawmakers. Sources indicate both parties are now “determined to make faster progress” on the legislation.

Industry Leaders Express Optimism

Coinbase CEO Brian Armstrong spoke on Capitol Hill about the timeline for the Crypto Market Structure Bill. Armstrong stated lawmakers from both parties are “90% aligned” on the bill’s core framework. He expressed optimism that the bill could be finalized by year’s end.

The Crypto Market Structure Bill represents months of collaboration between industry and government. The legislation strikes a balance between innovation support and consumer protection measures. The final passage would provide the regulatory clarity that the digital asset industry has long sought.

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