- Several U.S. senators plan to advance legislation on crypto market structure despite the ongoing government shutdown.
- The bill aims to establish clear rules for digital asset markets before the end of 2025.
- Negotiations involve key Senate committees, including Agriculture and Banking, with bipartisan discussions underway.
- The legislation builds on the House-passed CLARITY Act and is expected to be called the Responsible Financial Innovation Act.
- Coinbase CEO recently reported that about 90% of bill issues have been agreed upon by senators.
Several U.S. senators, including prominent Republicans, are moving forward to pass legislation regulating the crypto market despite an ongoing government shutdown. The effort aims to finalize the bill on digital asset market structure by the end of the year, maintaining the original timeline despite furloughs affecting thousands of government employees.
John Boozman, chair of the Senate Agriculture Committee, said he is negotiating with Democrats to introduce a bipartisan market structure bill soon. The plan is to pass the legislation before 2026. Concurrent talks are also happening in the Senate Banking Committee, which must approve the bill after the Agriculture Committee, with a deal possibly announced within weeks.
The legislation follows the House’s passage of the CLARITY Act in July, which was part of Republicans’ “crypto week” agenda. Senate leaders intend to expand on the bill, shaping it into what may be titled the Responsible Financial Innovation Act. Wyoming Senator Cynthia Lummis, a key supporter, had hoped the Agriculture Committee would review the bill by the end of September and the Banking Committee by the end of October. However, these deadlines have passed or are unlikely to be met during the shutdown.
Recently, Coinbase CEO Brian Armstrong met with legislators in Washington, D.C., reporting that about 90% of the discussions on the bill’s content had been settled by the Senate. Armstrong said the lawmakers continue to work hard on the legislation to address crypto regulations comprehensively.
The bill focuses on defining market structure rules, which refer to the regulations governing how digital asset trading platforms operate, aiming to provide clear and consistent standards for the crypto industry. The bipartisan effort represents a significant step toward formal crypto regulation in the United States.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Microsoft (MSFT) Reports Robust Azure AI Sales as Shares Fall 5%
- Tesla AI Chief Urges Shareholders to Support Musk’s $1T Pay Deal
- CZ Threatens to Sue Warren Over Money Laundering Claims Dispute
- Radix Launches Atomix, Enabling Instant Peer-to-Peer NFT Trades
- 21Shares Submits HYPE ETF Application to Capitalize on Altcoin Surge
