U.S. Senate Banking Committee Chair expects 12 to 18 Democratic senators may support the Digital Asset Market Structure Bill

According to a report by Jinse Finance, Tim Scott, Chairman of the U.S. Senate Banking Committee, stated at the SALT conference in Jackson Hole, Wyoming, that he expects 12 to 18 Democratic senators may support the Senate’s market structure bill for digital asset market regulation. Currently, the Senate has only released a discussion draft, and the final bill is expected to be completed by the end of September. This legislation will determine how the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regulate digital assets, including the spot crypto market. Scott noted that some Democrats, such as Elizabeth Warren, may hinder the progress of the bill.