US Senate Republicans Release Draft Bill on Crypto Market Structure to Advance Regulatory Clarity

Odaily Planet Daily reported that Senator Tim Scott, together with Cynthia Lummis and others, has introduced a draft bill for crypto market regulation, aiming to advance the Digital Asset Market Clarity Act (CLARITY Act) previously passed by the House of Representatives. The draft requires the SEC to adjust its regulatory rules based on the characteristics of crypto assets and defines "ancillary assets" to clarify the scope of non-securities digital assets, with the goal of reaching legislative consensus by September 30. (The Block)