Senator Lummis anticipates crypto market structure markup next week

Senator Cynthia Lummis, a key proponent of digital asset legislation, announced at the Blockchain Association Policy Summit that she anticipates the markup hearing for the Responsible Financial Innovation Act—the Senate Banking Committee's market structure bill—to take place next week. Lummis noted that bipartisan discussions have been intense, leading to many draft changes that have exhausted staff, prompting her desire to move forward with the current product before the Christmas recess. Her goal is to share the best effort draft by the end of this week for industry and congressional vetting before the markup. A markup hearing allows lawmakers to consider amendments before the bill proceeds to a full Senate vote. The bill, which has faced delays, is generally championed by the crypto industry for providing regulatory clarity, potentially granting the Commodity Futures Trading Commission more authority over digital assets, shifting power away from the SEC.

(Source：Cointelegraph)