5 Highlights from the U.S. Senate's Much-Hyped Crypto Market Structure Draft Bill
The Senate's draft crypto market structure bill is here, and it makes some controversial concessions. Let's dig into the details.
The crypto market may finally be getting something it has desperately wanted – codified market structure – courtesy of the Digital Asset Market Clarity Act (released overnight) which has earned bipartisan support thanks to some very noteworthy concessions regarding the future of crypto in America.
The 278-page text – the result of months of fraught negotiations between Senate Republicans and Democrats (and industry lobbyists) – establishes a regulatory framework that would split digital asset oversight between the SEC and CFTC agencies. The crypto community is sure to have some mixed takeaways on some of these provisions. Paradigm policy head Justin Slaughter called the bill "a big win for the Democratic Members on [the Senate Banking Committee]," and something that could have passed under a Biden administration.
Today, we're exploring five key provisions of the Digital Asset Market Clarity Act (DAMCA) to better understand how the future of crypto market structure clarity might evolve. 👇
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Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
