The U.S. Senate Banking Committee's principles aim to establish a framework for cryptocurrency regulation, signed by key Republican senators, amidst ongoing legislative discussions.
The U.S. Senate Banking Committee has released principles for cryptocurrency market regulation, signed by Republican senators including Tim Scott and Cynthia Lummis. The framework aims to clarify the distinction between securities and commodities, promote innovation-friendly regulations, and establish shared oversight among agencies. This announcement comes ahead of a Senate hearing on digital assets, which highlighted concerns about the U.S. regulatory landscape compared to global peers. The principles emphasize the need for targeted anti-money laundering rules and collaborative efforts between federal regulators and crypto projects.