U.S. Senate Releases Draft of ‘Crypto Market Structure Principles’
Summary
- The United States Senate has announced the release of the draft for the ‘Crypto Market Structure Principles’.
- The draft includes clarification of the legal status of digital assets, specification of the roles and responsibilities of regulatory agencies, and strengthening of investor protection.
- The draft is expected to set the standard for future cryptocurrency market legislation.
On the 24th (local time), Eleanor Terrett, the host of Crypto in America, reported via X (formerly Twitter) that the draft of the ‘Crypto Market Structure Principles,’ which will serve as a standard for future cryptocurrency legislation, has been released.
The draft includes: ▲Clarification of the legal status of digital assets ▲Specification of the roles and responsibilities of regulatory agencies ▲Improvement of the outdated regulatory framework ▲Strengthening of digital asset investor protection ▲Implementation of Anti-Money Laundering (AML) measures ▲Provision of clear guidance by regulatory agencies.
The draft was co-signed by Tim Scott, Chairman of the United States Senate Committee on Banking, Housing, and Urban Affairs, along with U.S. Senators Cynthia Lummis, Thom Tillis, and Bill Hagerty.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.