According to ChainCatcher and reported by TheBlock, the draft of the market structure bill proposed by the U.S. Senate suggests the establishment of a joint committee between the SEC and CFTC to end the regulatory dispute over cryptocurrency. The draft includes provisions to protect decentralized finance (DeFi) developers, clarify the regulatory treatment of airdrops, and exempt decentralized physical infrastructure networks (DePINs) from securities laws, among others.
In addition, the bill also calls for the establishment of a joint advisory committee for digital assets between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to coordinate the two agencies' differing regulatory approaches to digital assets. The SEC and CFTC have recently deepened their cooperation in cryptocurrency regulation and plan to hold a public roundtable on September 29 to discuss 'regulatory coordination priorities.' SEC Chairman Paul S. Atkins and CFTC Acting Chair Caroline D. Pham stated in a joint statement: 'By collaborating to coordinate the regulatory framework, the SEC and CFTC can reduce unnecessary barriers, enhance market efficiency, and create space for innovative development. Our common goal is to ensure that the United States maintains its leadership in global capital markets.'
Previously, Senator Cynthia Lummis stated that the market structure bill is expected to be signed into law by President Trump before Christmas this year. In addition, the Small Business Administration has ordered banking institutions to restore services to customers who were illegally 'debanked' and has requested that related policies be corrected by December 5. The Consumer Financial Protection Bureau has also publicly acknowledged the existence of abuse of power against certain companies during the Biden administration.
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