Senate Banking Chair Woos Democrats for Crypto Restructure Bill

Senate Banking Committee Chairman Tim Scott said there are enough Democrats open to voting for legislation to restructure the crypto market to move it forward, even though the panel’s top Democrat opposes the measure.

Scott and other Republicans on the committee released a discussion draft of digital asset market structure legislation before leaving for recess. The measure is intended to build on the CLARITY Act (H.R.3633), which would set rules for crypto tokens and exchanges and won House passage in July. Scott plans to advance the digital asset market structure legislation through committee in September. He’s hoping broad ...