Early hot discussion: The draft market structure received positive reviews

The 182-page cryptocurrency market structure draft of the Senate Banking Committee received positive early feedback, focusing on clarity of decentralized governance, rights protection, and coordination between the SEC and CFTC. The bill draws on the House of Representatives' CLARITY Act, and the committee is expected to complete amendments by the end of the month, awaiting negotiations from the Democratic Party. The SEC and CFTC announced a roundtable meeting on September 29 to discuss regulatory coordination issues covering DeFi exemptions and extended transaction times.