Senate GOP updates crypto market structure bill draft

[Coin on CPU background. data and innovation cryptocurrency technology, Crypto payments.]

Senate Republicans recently updated the draft of a crypto market structure bill that distinguishes whether digital assets will be regulated as securities or commodities, according to a filing.

The Senate draft of the Responsible Financial Innovation Act mirrors [https://aboutbgov.com/bjrn] parts of the House-passed CLARITY Act. The House and Senate both passed the landmark stablecoin bill over the summer, followed by pro-crypto U.S. President Donald Trump's signing of the bill into law in July.

Republicans aim to clear the bill in the Senate Banking Committee this September, though a bipartisan deal for Senate passage remains out of reach.

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