[ #USGovernment ] The U.S. Senate has released a new draft regarding the bill that regulates the structure of the Bitcoin and crypto market.
The crypto market may experience significant changes after the U.S. Senate releases a new draft on the structure of the Bitcoin and crypto market. This draft aims to provide regulatory clarity and enhance consumer protection.
Some important points in this draft are:
1. Definition of Digital Commodity
Bitcoin and other crypto assets are defined as "digital commodities" regulated by the Commodity Futures Trading Commission (CFTC).
2. CFTC Oversight
The CFTC will have greater oversight over the crypto market, including spot and derivatives trading.
3. Consumer Protection
This draft includes consumer protection measures, such as requirements to separate customer funds from company funds.
4. Taxes
There are no significant changes to crypto taxes in this draft.
However, it should be noted that this draft is still in the discussion stage and has not yet become law. The crypto market may react to this news, but the effects are still uncertain.
