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Senate Banking Chairman Tim Scott predicts up to 18 Democrats to break ranks on sweeping crypto law – TON BOT

Senate Banking Chairman Tim Scott predicts up to 18 Democrats to break ranks on sweeping crypto law

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Senate Banking Committee Chairman Tim Scott is working to build bipartisan support for comprehensive crypto market structure legislation, with 12 to 18 Democrats expected to back the bill. The legislation aims to establish regulatory frameworks for digital assets, including defining ancillary asset classifications and modernizing disclosure requirements. The proposed legislation would also direct coordination between the Securities and Exchange Commission and the Commodity Futures Trading Commission, creating clear distinctions between digital asset securities and commodities. Regulatory clarity is seen as crucial to prevent American innovation from moving overseas, with outdated laws and regulatory uncertainty hindering innovation and consumer protections. Public comments will inform final legislation development.

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