US Senate GOP: Market Structure Bill Doesn’t ‘Serve Industry Interests‘

US Senate Republicans, ahead of a Banking Committee markup for the digital asset market structure bill (the CLARITY Act), issued a 'myth vs. fact' sheet asserting the legislation was shaped by bipartisan work and focuses on investor protection, not serving industry interests. However, the bill faces pushback from crypto industry leaders. Galaxy Digital expressed concerns about increased government surveillance capabilities, while Coinbase noted provisions causing "enormous concern," including text that could block the SEC from allowing the tokenization of equity markets. An amended draft addressed stablecoin rewards by barring passive returns but not outright banning rewards. Furthermore, the Senate Agriculture Committee is also preparing its own draft legislation on related matters, indicating a multi-committee approach to regulating digital assets.

(Source：Cointelegraph)