U.S. Senators Advance Crypto Oversight Legislation Amid Bank CEO Consultations
Washington's regulatory machinery is accelerating as Senate committees prepare to vote on landmark digital asset market structure legislation. The Banking and Agriculture Committees aim to finalize a unified draft by December, setting the stage for a full Senate vote in early 2024. Provisions under consideration include exemptions from Securities Act registration for certain VIRTUAL assets—a potential watershed for crypto-native projects.
Behind closed doors, major bank CEOs are engaging with lawmakers as the bill's implications for spot markets, derivatives trading, and stablecoins come into sharper focus. The legislation could redefine custody rules and on-chain financial services, creating Ripple effects across exchanges and trading platforms.
