Senate Banking Committee finalizes market structure details; Gensler's text disappears

The Senate Banking Committee, led by Tim Scott, is finalizing a draft market structure reform based on summer feedback, with the goal of completing the committee’s annotations by the end of the month and submitting it to the Senate vote by the end of the year. Meanwhile, a nearly one-year text from former Chairman Gary Gensler (which covers critical periods of cryptocurrency enforcement) was permanently lost due to IT errors, a SEC investigation, which affected the record of enforcement actions and the coordination of the White House.