Senate Banking Committee eyes April vote on crypto market structure bill, Sen. Lummis says

Senator Cynthia Lummis announced that the Senate Banking Committee intends to hold a markup session to amend and vote on a broad cryptocurrency market structure bill before the end of April, following the Easter recess. This legislation aims to clarify regulatory jurisdiction between the CFTC and SEC, define digital assets as securities or commodities, and establish new disclosure requirements. Negotiations have been complicated by disagreements over allowing stablecoin issuers to offer yield, though Lummis believes a compromise has been reached on that issue, and concerns regarding decentralized finance (DeFi) have reportedly been resolved. For the bill to become law, both the Senate Banking Committee's version and the House's version (the Clarity Act) must eventually be reconciled and passed by both chambers, with lawmakers facing a tight timeline before the November midterm elections, as Senator Moreno warned that passage must occur by May to succeed in the foreseeable future.

(Source：The Block)