The Senate Democrats have unveiled their own framework for market structure legislation in order to define how cryptocurrencies are part of current or future regulatory executives in the United States, including how the securities and exchanges committee and the Commission de la Community Futures Futures Trading Commission should supervise the digital asset sector.
The framework of the legislators, published on Tuesday, listed seven “key pillars”, in particular by calling for fair regulation which protects consumers and investors, defining how digital assets adapt to the jurisdictions of the various regulators and “the prevention of corruption and abuse”. The Republicans of the Senating Banking Committee have already published several bills on the market structure bill, which, according to the chairman of the committee, is expected to go through the Senate by the end of September.
Senators Ruben Gallego, Mark Warner, Kirsten Gillibrand, Cory Booker, Catherine Cortez Masto, Ben Ray Lujan, John Hickenlooper, Raphael Warnock, Adam Schiff, Andy Kim, Lisa Blunt Rochester and Angela Alsobrooks signed the frame. All legislators except two – Hickenlooper and Kim – had previously voted in favor of the law on engineering, a law regulating stablecoins in the United States, suggesting that it is members who could be willing to support this more consecutive legislation. Gillibrand previously sponsored many bills with Republican Cynthia Lummis addressed to Crypto. Any bill will need bipartite support to progress in the Senate.
“We owe it to millions of Americans who participate in this market to create clear road rules that protect consumers and safeguard our markets,” the legislators said in a statement. “We must also make sure that digital assets are not used to finance illicit activities or to align the pockets of politicians and their families.”
Their framework maintains that the existing regulatory regime in the United States has “hampered innovation and consumer protection”, and has called for legislation in order to clarify how digital assets that are not securities are part of the rules and how they would be regulated. The seven pillars include “filling the gap in the cash market” of cryptocurrencies which are not titles; clarify regulatory competence; bring issuers to a regulatory framework; Bring other platforms in a frame; block illegal finance; Prevent corruption by crypto and “ensure fair and effective regulation”.
The new crypto advisor to the White House, Patrick Witt, said in an interview with Coindesk this week that the effort focused on the GOP had sought the comments of the Democrats to ensure a bill that can adopt the Senate. This document can be the most important answer to date, which gives both parties something more concrete to speak.
The 6 -page document notes that the CFTC does not currently have the resources to properly supervise the markets of the cryptographic points, and it calls for both this agency and the dry to offer new executives to supervise their respective parts of the digital asset sector.
He also called for legislation so that all digital asset platforms have registered in the form of “financial institutions” with the financial crimes Network (Fincen)A branch of the US Treasury Department responsible for following illicit finance.
A bonding point can go through the sixth pillar, entitled “preventing corruption and abuses”.
The section said that US President Donald Trump “turned to digital asset projects to enrich himself and his family”, and declared that the legislation should “limit elected officials and their families to issue, approve or take advantage of digital assets during his functions” and require disclosure.
Similar arguments have contributed to a heist in the adoption of the Act on Engineering earlier this year, but the bill finally adopted without any provision preventing Trump or his family from engaging in the crypto.
In a press release, senator Elizabeth Warren, the best democrat of the banking committee, said: “The production of a new cryptographic regulatory regime requires legislation that can both transmit the Chamber and the Senate.”
“Until now, instead of working with us, the Republicans have produced two partisan sketches-including a recent proposal that reflects the secret comments of the industry and other stakeholders that the Republicans refuse to share with the Democrats of the Committee, or the public,” she said, adding that the comments should be shared publicly.
Read more: New White House Crypto Advisor Patrick Witt calls the structure of the Bill Priority Priority market
UPDATE (September 9, 2025, 18:33 UTC):: Add a Warren declaration.
