Republican leaders on the US Banking Banking Committee have released their version of law for a digital asset market structure, suggesting that they can combine their efforts with a bill passed to the House of Representative.
In a notice on Tuesday, four Republican senators, including banking committee chairman Tim Scott and subcomm committee chairman Cynthia Lummis, released A draft of the discussion of the Crypto market structure law.
According to lawmakers, the temporary entitled Responsible Financial Innovation Act “constitutes” the Digital Asset Market Clarity (CLARITY) Act, which passed on to the house On July 17.
“My colleagues in the Chamber and Senate and I share the same goal: provide clear road policies for digital possessions,” Scott said.
Although Republicans in the Chamber pushed through three crypto bills with Bipartisan support last week, only the guidance and establishment of national innovation for US Stablecoins (Genius) Act passed through both rooms and was able to be signed by law By US president Donald Trump.
Scott and Lummis said in June that they planned to have a market structure bill passed by the Senate Before October.
Related: Many senators who are not in the ‘bipartisan’ structure of the crypto market structure
Side-by-side look at the senate and house bills
Both versions of the Chamber of Crypto market structure have suggested the amendment of disclosure requirements under the Securities Act of 1933, indicating that existing laws are not suitable for regulating modern investment vehicles such as digital assets.
The law of cleanliness appeared To allow greater cooperation between the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in establishing policies for digital asset transactions.
The Senate’s draft bill also includes amendments related to the disclosure of the “ten -owned,” which lawmakers said applied to digital possession that are not considered security.
https://www.youtube.com/watch?v=bwzodbdbiuw
“Backing the Bipartisan, the Clarity Law leading to the Senate of Signs increases the momentum behind the comprehensive crypto policy and growing the need for market structure rules, even if the entire passage may last longer as Congress collapse for Tag -Sun,” said Liat Shetre, the Vice President of the global policy and regulatory Elliptic, in a statement shared with cointelegraph.
It is unclear whether the draft bill will have enough support to pass to the Senate, where Republicans hold a slim most of the Democrats.
More than 70 House Democrats have cooperated with the Republicans to pass the Clarity Act, but any change in the words of the bill can spark debates or pushing in a heated congress.
Magazine: The Genius Act reopened the door for a meta stablecoin, but would it work?
