The U.S. Senate's latest draft bill aims to establish clearer definitions for ancillary assets and seeks public input to refine regulatory frameworks for digital assets.
The U.S. Senate has released a discussion draft of a market structure bill aimed at defining digital assets outside of securities, directing the SEC to create rules for these assets. The bill introduces the concept of 'ancillary assets' and outlines joint rulemaking with the CFTC. Senators are inviting public feedback on various aspects of the proposed regulations, including investor protection and the treatment of intermediaries, with responses due by August 5.