The Senate Agriculture Committee has released a draft bill aimed at defining the roles of the CFTC and SEC in overseeing the crypto market. This draft will need to be merged with a similar proposal from the Senate Banking Committee, a process that could take months amid ongoing government budget disputes.

The U.S. SEC and CFTC announced that registered trading platforms can now facilitate the trading of certain spot crypto assets, marking a shift in regulatory stance and aiming to establish a clearer framework for the crypto market ahead of pending legislation. The agencies are encouraging market participants to engage with them to navigate this new opportunity, highlighting their commitment to support growth in the crypto sector.

A new draft of a major crypto market structure bill in the U.S. Senate proposes establishing a joint advisory committee between the SEC and CFTC to harmonize digital asset regulations. The bill includes protections for DeFi developers, clarifies the treatment of airdrops, and exempts Decentralized Physical Infrastructure Networks from securities laws.