GOP senators unveil a crypto market bill echoing the House-passed CLARITY Act.

The draft aims to clear up confusion between securities and commodities.

Senators are asking for public input to refine the framework.

Top Republican members of the U.S. Senate Banking Committee have released their version of legislation to shape crypto asset regulations. Chairman Tim Scott from South Carolina, joined by Senators Cynthia Lummis of Wyoming, Bill Hagerty of Tennessee, and Bernie Moreno of Ohio, introduced a discussion draft that could pave the way for a unified approach with the House of Representatives.

This move follows last week’s approval of the CLARITY Act in the House with bipartisan support. The Senate draft takes inspiration from that bill and aims to create a clearer legal structure for the digital asset market.

According to Scott, the goal is to give investors protection, keep innovation alive, and make sure the future of digital finance stays within the U.S. The senators hope to work with the House and, potentially, a future Trump administration to push this plan forward.

Also Read: Tether Helps Freeze R$32 Million in Crypto Crackdown, Boosting Its Role in Fighting Crime

Senator Lummis Backs Draft to Clarify Crypto Securities Rules

Senator Lummis, who leads the Senate’s digital assets subcommittee, pointed out that the lack of clear rules has caused setbacks in the crypto space.

She believes American innovation is being pushed abroad due to confusing or outdated regulations. The draft tries to fix that by explaining what types of digital assets are securities and what aren’t.

One of the draft’s key proposals is the definition of “ancillary assets.” This helps regulators and companies understand which digital tokens don’t fall under securities rules.

It also includes new disclosure rules that apply specifically to how these assets are offered, sold, or distributed. The idea is to provide needed transparency without making it harder for businesses to grow.

Senators Push Crypto Reform with Regulation DA Proposal

Senator Hagerty added his support for an overhaul of the treatment of digital assets under the SEC. It contains a proposed rule, Regulation DA.

It would allow limited sales of ancillary assets to go through without completing registration, especially for smaller projects with an annual value of less than $75 million. It also tries to offer clearer guidelines for investment contracts.

This proposal, aside from SEC reforms, also considers combating financial crimes in the digital realm. It demands improved exam standards and collaboration between law enforcement and private entities.

Sen. Moreno, who previously worked on the GENIUS Act, looks at the current action as part of the next step toward submitting a strong, bipartisan crypto bill to the president’s desk. He believes the legislation can protect consumers yet keep the United States ahead in digital finance as well as in global leadership.

Also Read: Crypto Regulation Begins as GENIUS Act Signed into Law by Trump

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Filed under: Bitcoin - @ July 22, 2025 8:26 pm