Over 100 crypto institutions urge the US Senate to advance market structure bill deliberation

Odaily Planet Daily News Over 100 crypto companies and industry organizations, including Coinbase, Circle, Kraken, Ripple, a16z, Paradigm, and Consensys, have jointly sent a letter to the US Senate Banking Committee, urging them to advance the deliberation of the "Clarity Act" market structure bill.

The bill aims to establish a federal-level regulatory framework for the crypto market. The joint signatories stated that relying solely on regulatory enforcement cannot establish stable rules. They proposed several recommendations, including clarifying the division of regulatory responsibilities between the SEC and the CFTC, protecting developers of non-custodial tools, and unifying information disclosure standards. They also warned that legislative delays could lead to an outflow of capital and innovation. (CoinDesk)