Senate Crypto Market Structure Draft: Pro-Crypto Shift Faces Hurdles Without Democratic Support

The upcoming draft of the Senate's market structure legislation is anticipated to include provisions favorable to the cryptocurrency industry. However, key industry stakeholders express concern that without bipartisan backing, particularly from Democrats, the bill's chances of becoming law are significantly diminished. This potential lack of support could stall crucial regulatory clarity for digital assets like Bitcoin (BTC) and Ethereum (ETH). The draft represents a pivotal moment for U.S. crypto regulation, aiming to define the roles of the SEC and CFTC. While the pro-crypto leanings are seen as a positive step, the political divide underscores the ongoing challenges in establishing a comprehensive federal framework for the crypto market.