Industry Feedback: Crypto Market Structure Bill Draft Raises Calls For Improvements

The unveiling of the anticipated draft of the crypto-centric Market Structure Bill has stirred a wave of reactions and demands for key enhancements from industry stakeholders. Crypto Market Structure Bill Draft Under Scrutiny According to Crypto In America, the long-awaited market structure discussion draft presented by the Senate Agriculture Committee this week has left many in the industry expressing the need for substantial improvements before extending their complete backing. Led by Chairman John Boozman and Senator Cory Booker, the draft draws inspiration from the CLARITY Act, aiming to delineate the definition of a digital commodity while accentuating aspects related to customer protections, oversight by the Commodity Futures Trading Commission (CFTC), and self-custody protocols. However, the presence of blockchain-related language enclosed in brackets signifies ongoing deliberations among lawmakers, with significant sections pertaining to decentralized finance (DeFi) and anti-money laundering (AML) left vacant. A figure from a leading crypto trade association articulated...

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