A group of twelve Democratic senators is calling for a “bipartisan authorship process” for the developing crypto market structure legislation. This initiative, led by senators including Kirsten Gillibrand and Mark Warner, aims to transform the legislative process from a partisan endeavor into a collaborative one. The senators have outlined a seven-pillar framework as a basis for these bipartisan negotiations.
This move directly addresses the Republican-led “Clarity Act,” which has already passed the House of Representatives. The Democratic senators wish to be co-authors of the bill, not just commentators on a pre-existing Republican draft.
The push for a bipartisan approach to the crypto market structure bill signals a significant step towards establishing a comprehensive and resilient regulatory framework for digital assets in the United States.
- Number of Senators ▴ Twelve Democratic senators are involved in this push for bipartisan authorship.
- Proposed Framework ▴ The Democratic proposal is built on a seven-pillar framework for regulating the US crypto markets.
- Counterpart Legislation ▴ The Republican-led “Clarity Act” is the existing bill that the Democrats are seeking to collaboratively amend.
Signal Acquired from ▴ The Block
