United States Senator Bill Hagerty (R-TN), a member of the Senate Banking Committee, has collaborated with Senators Tim Scott (R-SC), Cynthia Lummis (R-WY), and Bernie Moreno (R-OH) to release an initial discussion draft concerning digital asset market structure legislation. This initiative falls under the jurisdiction of the Senate Banking Committee.
The discussion draft builds upon the CLARITY Act, which recently passed in the House of Representatives with strong bipartisan support. Alongside this draft, a Request for Information (RFI) has been issued to gather feedback from stakeholders on various questions related to the draft.
Senator Hagerty stated, “For too long, outdated laws and regulatory uncertainty around digital asset market structure have hindered American innovation and left consumers without adequate protections.” He emphasized that this draft is committed to fostering innovation while ensuring consumer protection.
Chairman Scott expressed his intent to provide clear regulations for digital assets that protect investors and foster innovation. “I’m grateful for the hard work of our House counterparts to craft smart, bipartisan legislation,” he said.
Senator Lummis highlighted that “the time for regulatory uncertainty in the digital asset space has come to an end.” She stressed that this draft aims to modernize regulatory frameworks and position the United States as a leader in digital asset innovation.
Senator Moreno added that this draft represents a significant step towards establishing a bipartisan regulatory framework. “This draft represents the next step in putting a bipartisan regulatory framework on President Trump’s desk,” he remarked.
Stakeholders are encouraged to submit their feedback via email at MarketStructure_RFI@banking.senate.gov.
