Draft Bill in US Senate Aims to Resolve Crypto Regulatory Uncertainty

US senators have put forward new draft legislation intended to define federal oversight of the cryptocurrency sector. The bill, if passed, would create a structured regulatory environment, potentially encouraging wider adoption of digital assets by clarifying legal responsibilities.

The push for this legislation comes from an industry that views regulatory clarity as existential. Crypto companies argue that well-defined rules are necessary to operate effectively and innovate within the US market.

The draft provides a methodology for categorizing crypto tokens, determining which fall under securities laws and which are considered commodities. This distinction is foundational for applying the appropriate consumer protections and market rules.

Under the proposed framework, the US Commodity Futures Trading Commission would receive explicit authority to regulate markets for non-security digital assets, including spot trading. This contrasts with the current environment where the US Securities and Exchange Commission has taken a broader enforcement stance.

The bill also proposes a technical revision to the federal stablecoin act passed last year. This revision resolves an issue identified by the banking industry, integrating traditional finance more smoothly into the new regulatory landscape for dollar-pegged tokens.