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Senate Advances Crypto Market Structure Bill with New Digital Asset Definitions

Senate Advances Crypto Market Structure Bill with New Digital Asset Definitions

Published:
2025-07-22 17:00:03
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BTCCSquare news:

The U.S. Senate has released a 35-page discussion draft for a crypto market structure bill, marking a significant step in regulatory efforts. The legislation introduces new definitions for digital assets that fall outside securities classification, directing the SEC to exempt such assets—and their issuers—from existing regulations. Joint rulemaking between the SEC and CFTC would cover areas like portfolio margining.

The draft diverges from the House's Clarity Act by defining "ancillary assets" as digital tokens sold alongside investment contracts but lacking financial rights. This follows Senate Banking Committee principles released last month, which emphasized SEC-led rulemaking for disclosure requirements and ancillary assets. The focus remains squarely on the SEC, sidelining the CFTC for now.

|Square

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