On Friday, the US Senate revised its crypto market structure bill, introducing a crucial provision to clarify the regulation of tokenized assets. This new clause ensures that tokenized stocks and securities remain classified as such, preventing confusion with commodities regulations. This distinction is vital for digital asset firms involved in tokenization, as it maintains compatibility with existing broker-dealer frameworks and trading platforms. Senator Cynthia Lummis, a primary sponsor of the bill, expressed a desire to have it on the president's desk by year-end. The Responsible Financial Innovation Act of 2025 aims to delineate the oversight responsibilities of the Securities and Exchange Commission and the Commodity Futures Trading Commission. Lummis anticipates a Senate Banking Committee vote this month, followed by the Agriculture Committee's vote in October, with a full Senate vote potentially in November. While the draft lacks Democratic support, bipartisan discussions are ongoing. Recently, 112 crypto firms urged the Senate to protect software developers and non-custodial service providers from outdated regulations. Read more AI-generated news on: https://app.chaingpt.org/news