As the digital asset sector grows rapidly, U.S. lawmakers are accelerating efforts to create a clear regulatory structure. On June 24, several Republican senators released a framework of principles to guide new crypto legislation focused on market structure.
Senate Republicans Push for Regulatory Clarity
Led by Senate Banking Committee Chairman Tim Scott, the proposal is backed by Senators Cynthia Lummis, Thom Tillis, and Bill Hagerty. These lawmakers represent half of the Senate Banking Committee members necessary to pass a bill through the chamber.
“These principles will serve as an important baseline for negotiations on this bill,” Scott noted, emphasizing the need to move past political gridlock and deliver long-overdue regulatory clarity for the digital asset space.
Key Elements of the Proposed Framework
The senators’ core regulatory goals include:
- Clear definitions separating digital commodities from securities
- A shared oversight model that avoids empowering a single all-encompassing regulator
- A “small package” of AML (anti-money laundering) protections that encourage innovation
- Tools for regulatory flexibility such as no-action relief, sandboxes, and safe harbor policies
These priorities aim to balance investor protection with industry innovation, a demand consistently raised by both startups and institutional players.
Senate Moves Toward Broader Legislation
The Senate’s market structure proposal follows the recent passage of the GENIUS Act, a stablecoin regulation bill that passed with wide bipartisan support. While the House of Representatives leads the effort with its Digital Asset Market Clarity Act, the Senate is now stepping into a more active role.
A hearing hosted by the Senate Digital Assets Subcommittee was scheduled for June 24 to explore how to integrate the new framework into broader legislation.
Global Competition Adds Pressure
Senator Lummis emphasized that the U.S. is falling behind regions like the EU and Singapore, which have already established comprehensive crypto rules. “That changes today,” she stated during the announcement.
What Comes Next
Lawmakers are expected to consider merging market structure and stablecoin bills into a single, more complex legislative package. Others suggest keeping them separate to ensure quicker progress.
Either way, bipartisan support and industry urgency are aligning to push the U.S. toward finally establishing a full crypto regulatory framework.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.