U.S. Senate Banking Committee Consults Industry Groups on Cryptocurrency Market Structure Bill

The Block reported on the 18th that members of the U.S. Senate Banking Committee held a roughly one-and-a-half-hour meeting with cryptocurrency industry groups and representatives of traditional financial institutions to discuss the 'Clarity Bill' (Market Structure Bill). The Blockchain Association, Crypto Council for Innovation, Financial Services Forum, and Securities Industry and Financial Markets Association also participated.

The Market Structure Bill aims to establish criteria for classifying cryptocurrencies as either securities or commodities, and to clarify the jurisdictions of the Securities and Exchange Commission and the Commodity Futures Trading Commission. By clarifying the rules that the industry must follow, it is expected to promote the entry of companies and capital in the medium to long term.

According to reports, Coinbase...