According to Deep Tide TechFlow, on June 24, U.S. Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Scott, along with Senators Cynthia Lummis, Thom Tillis, and Bill Hagerty, jointly released principles for the structure of the cryptocurrency market, aimed at guiding future cryptocurrency legislation.
The principles emphasize six key directions: clarifying the legal status of digital assets, distinguishing between digital asset securities and commodities; defining the responsibilities of regulatory agencies to avoid a single all-powerful regulator; modernizing regulation to promote innovation, including new exemptions for digital asset financing provided by the SEC; protecting the rights of traders with innovation-friendly registration requirements for centralized intermediary institutions; creating anti-money laundering measures that promote innovation; and federal financial regulatory agencies should welcome responsible innovation and provide clear guidance.
The principles particularly emphasize the protection of self-custody rights, distinguishing the differences between centralized and decentralized platforms, and recognizing that tokenization is an evolution of financial infrastructure rather than a fundamental transformation.