The probability of the Crypto Market Structure Act being passed by the Senate is increasing, and the prospects for bipartisan cooperation are optimistic

Odaily Planet Daily News According to crypto reporter Eleanor Terrett, the U.S. Senate Democrats today released a comprehensive framework for the Crypto Market Structure Act, which has sparked optimism among crypto industry insiders and some Republican leaders. The reform of the cryptocurrency market structure may find a path to bipartisan cooperation in the Senate. The coalition of 12 Democrats has released a detailed framework that shows that the Democrats are ready to join the previous efforts to establish clear crypto market rules driven primarily by the Republican Party. Senator Cynthia Lummis, a key Republican promoter, praised the cross-party effort. The Democratic Party framework is based on seven key pillars, aims to clarify token jurisdiction, strengthen supervision of trading platforms and issuers, combat illegal financial activities and conflicts of interest, and provide regulators with more law enforcement resources. These priorities overlap with the Republicans' emphasis. The key to reaching an agreement between the two parties is the details, especially the differences on the intensity of supervision. Republicans have always tended to be more relaxed in regulation, while Democrats have tended to be stricter rules. Previous reports were reported that the Senate Banking Committee is expected to mark the draft market structure discussion by the end of September, while the Senate Agricultural Committee will also release a draft covering the CFTC’s regulatory portion in the near future, and the Market Structure Bill is expected to be signed into law by President Trump by Christmas this year.