US Senate Releases Draft Cryptocurrency Legal Guidelines

The draft of the Crypto Market Structure Principles, which will serve as a guideline for future cryptocurrency-related laws, was disclosed, according to host Eleanor Terrett via X. This guideline was signed by Tim Scott, chairman of the U.S. Senate Banking, Housing, and Urban Affairs Committee, as well as Senators Cynthia Lummis, Thom Tillis, and Bill Hagerty. It includes clarifying the legal status of digital assets, determining regulatory agency responsibilities, refining outdated regulations, protecting digital asset traders' rights, developing anti-money laundering measures, and mandating clear guidelines from regulatory agencies.