Senate Banking Committee Introduces Draft Bill on Crypto Market Structure

The Senate Banking Committee has unveiled a discussion draft for the Responsible Financial Innovation Act of 2025, marking a pivotal step in shaping U.S. crypto regulation. The draft introduces the concept of "ancillary assets" and seeks public feedback on the SEC's role in overseeing digital assets.

This legislative effort follows the House's passage of the Clarity Act, setting the stage for potential regulatory clarity. The Senate's approach diverges slightly, focusing more narrowly on the SEC's jurisdiction and the classification of digital assets.

Market participants have until early August to weigh in on the draft, which could redefine how cryptocurrencies are treated under U.S. securities laws. The outcome may significantly impact the broader crypto ecosystem, from Bitcoin to emerging altcoins.