Senate Banking Committee Establishes Plan for Crypto Market Standards
The principles aim to define the oversight of digital assets as debates intensify over cryptocurrency gains linked to Trump and federal legislation.
In Summary.
The Senate Banking Committee published principles to guide the development of comprehensive crypto legislation, emphasizing legal clarity without stifling innovation and defining regulatory roles.
Senator Lummis noted that the United States desperately needs legislation on digital assets while the EU and Singapore have already established clear regulations and the United States remains on the sidelines.
The principles came ahead of a hearing with testimonies from Coinbase and Multicoin Capital, following the momentum behind the Clarity Act that would remove SEC oversight in favor of CFTC.