U.S. Senators release a draft bill on crypto regulations
Bill outlines token classification, banking links, and disclosures
Aims to curb illicit finance in the crypto industry
A group of influential U.S. Senators — Tim Scott, Cynthia Lummis, Bill Hagerty, and Bernie Moreno — have introduced a long-awaited crypto market structure draft. The draft legislation aims to provide a clearer legal framework for how digital assets are classified, traded, and monitored in the U.S. financial system.
This initiative reflects the growing urgency in Washington to modernize the rules around digital assets. As the industry evolves rapidly, lawmakers want to ensure innovation can thrive while maintaining consumer protection and market integrity.
Key Features of the Draft
The crypto market structure draft addresses four core areas:
Token Classification:
The draft attempts to finally answer the long-standing debate over whether certain tokens are securities or commodities. It proposes clearer guidelines that could help projects and exchanges know which regulator — the SEC or the CFTC — they must deal with.Banking Operations:
The bill outlines how banks and other traditional financial institutions can safely engage with digital assets. This could pave the way for more widespread crypto integration into the mainstream financial sector, provided firms meet clear compliance standards.Disclosures & Consumer Protection:
New rules would require companies to be transparent about their operations, tokenomics, and risks. This disclosure framework aims to protect investors and reduce information asymmetry in the crypto space.Combating Illicit Finance:
One of the biggest concerns among regulators is the use of crypto for illegal activities. The draft introduces stricter controls and reporting requirements to detect and prevent money laundering and terrorism financing through digital assets.
LATEST: U.S. Senators Tim Scott, Cynthia Lummis, Bill Hagerty, and Bernie Moreno release long-awaited crypto market structure draft covering token classification, banking operations, disclosures, and illicit finance. pic.twitter.com/LpG5R6RISc
— Cointelegraph (@Cointelegraph) July 22, 2025
A Step Toward Regulatory Certainty
The introduction of this crypto market structure draft is a signal that bipartisan support for responsible crypto regulation is growing. While the bill is still in draft form, it could serve as the foundation for serious legislative action in the months ahead.
If passed, it would mark a significant turning point for the crypto industry, offering long-overdue clarity and encouraging responsible innovation within the U.S.
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