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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 SEC has passed a new exemption under the Genius Act that allows for the tokenization of various assets, potentially streamlining the process for issuing digital tokens. This legislative change aims to enhance the accessibility and efficiency of tokenized offerings in the financial market.