Senate GOP Pushes for Crypto Regulatory Vote, Aims to Define SEC and CFTC Roles

Reading Time: < 1 minute

US Senate Banking Chair Tim Scott (R-S.C.) is aiming for a committee vote next month on a landmark crypto market structure bill that seeks to resolve the long-standing jurisdictional battle between the SEC and CFTC.

The legislation would create a new category for “ancillary assets” to clarify which digital tokens are not securities, a key hurdle in the industry.

Scott expressed confidence the bill could reach the Senate floor early next year for President Trump to sign, though he will need Democratic support to advance it.