According to Deep Tide TechFlow, on July 22, U.S. Senate Banking Committee Chairman Tim Scott, Senators Cynthia Lummis, Bill Hagerty, and Bernie Moreno released a discussion draft on the structure of the cryptocurrency market. The draft was originally scheduled for release last week but was postponed due to internal disputes in the House of Representatives. The draft proposes new regulations on token classification, regulatory decentralization, banking operations, information disclosure, and illegal finance, based on the House-approved CLARITY Act and the Lummis-Gillibrand Act.