The U.S. Senate has unveiled a draft framework for future cryptocurrency legislation—the Crypto Market Structure Principles—according to disclosures by crypto commentator Eleanor Terrett on platform X. This guideline document carries signatures from prominent Senate figures including Tim Scott, Chair of the Senate Committee on Banking, Housing, and Urban Affairs, alongside Senators Cynthia Lummis, Tom Tillis, and Bill Hagerty.
Key provisions in the draft include:
- Clarifying the legal status of digital assets
- Defining regulatory agency responsibilities
- Modernizing outdated financial regulations
- Protecting rights of digital asset traders
- Developing anti-money laundering (AML) measures
- Requiring regulators to provide clear operational guidelines
👉 For the latest developments in crypto regulation, stay informed with expert analysis
Stablecoin Legislation: House vs Senate Approaches
Republican Representative Steve Scalise indicated the House remains undecided between:
- Voting on its own STABLE Act, or
- Accepting the Senate's GENIUS Act as preferred by former President Trump
However, House leadership leans toward bundling stablecoin regulation with the broader Cryptocurrency Market Structure Act (CLARITY), according to CNBC correspondent Emily Wilkins.
CFTC Chair: Bankruptcy Protection is Core Priority
Rostin Behnam, Chair of the Commodity Futures Trading Commission (CFTC), emphasized:
"The most critical consumer protection element in CLARITY is bankruptcy safeguards for crypto holders."
BIS Declares Stablecoins "Not Real Money"
The Bank for International Settlements (BIS) published findings that stablecoins fail to meet core monetary standards:
- Singularity (uniform exchange rates)
- Elasticity (adjustable supply)
- Integrity (AML compliance)
The report warned stablecoins could threaten national monetary sovereignty and enable financial crimes.
Visa CEO: "Ready to Implement Stablecoins Globally"
Ryan McInerney, CEO of Visa, told CNBC:
"We've prepared stablecoin integration solutions for years. With GENIUS likely passing Congress, Visa will leverage its network to advance stablecoin adoption worldwide—if market demand justifies it."
Turkey Tightens Crypto AML Rules
New Turkish regulations now require:
- 20+ character explanations for all crypto transfers
- Service providers to collect/report user transaction purposes
- Delayed withdrawals for non-compliant transactions
DeFi Infrastructure Firm Yield.xyz Secures $5M
Multicoin Capital invested $5M in Yield.xyz to develop:
- Risk-profile-based yield strategies
- Automated DeFi yield optimization tools
Robinhood CEO Predicts Crypto Dominance
Vlad Tenev, Robinhood CEO, stated on CNBC:
"Cryptocurrencies will fully replace traditional finance systems."
Market Updates
| Development | Detail |
|---|---|
| Coinbase Credit | Doubled Hut 8's credit line to $130M at 9% interest |
| DeFi Development | Launching WIF validator node on Solana |
| Aptos Labs | Released cloud-based storage network Shelby |
| Matter Labs | Introduced Airbender prover (35s/block verification) |
FAQ: Crypto Market Developments
Q: What's the status of the DOT spot ETF?
A: The SEC extended its review period again—no decision timeline provided.
Q: Are institutional investors bullish on ETH?
A: Despite price rebounds, ETH futures premiums dropped to 3%, indicating caution due to low TVL and platform competition.
Q: What's new with Bitcoin?
A: BTC surpassed $106,000 amid positive market sentiment.