The bipartisan Senate in the United States jointly proposed the "Market Structure Discussion Draft", summarizing 6 key points all at once.

Republican Chairman of the U.S. Senate Agriculture Committee John Boozman and Democratic Senator Cory Booker jointly released a “Market Structure Discussion Draft” on the morning of 11/11 (Market Structure Discussion Draft). This bipartisan draft continues the CLARITY Act passed by the House in July, aiming to authorize the Commodity Futures Trading Commission (CFTC) to oversee the regulation of the digital commodity spot market, establishing a unified, transparent regulatory framework with consumer protection for the U.S. crypto assets market.

CFTC is about to expand its powers, and both parties are joining hands to establish rules for the Crypto Assets market.

U.S. Senators Boozman and Booker have teamed up to introduce a “market structure discussion draft,” advocating for the CFTC to oversee the spot market for digital commodities. Boozman stated that the CFTC is the most suitable regulatory body, and this draft will establish clear rules for the emerging crypto market, protect consumers, and promote innovation.

He also thanked Booker for the bipartisan cooperation and emphasized the continued coordination with both the House and Senate to push for relevant legislation that can “protect the public and promote industry growth.” Booker pointed out that more and more Americans are entering the innovative financial and payment markets, and Congress has a responsibility to fill the regulatory gaps to prevent improper exploitation. He emphasized that the draft not only grants new powers to the CFTC but also ensures that the agency has sufficient personnel and resources to effectively manage this rapidly growing market.

Draft 6 Key Highlights at a Glance

According to the content, this “Market Structure Discussion Draft” has undergone months of negotiation, incorporating some provisions that have reached consensus, while also retaining items that are still pending discussion, marked in brackets as (. The two legislators also welcome feedback from the industry and experts. Here are the 6 key provisions of the draft:

Clearly define “digital goods” and establish a “spot market regulatory system” by the CFTC.

Enhance consumer protection by requiring trading institutions to segregate customer funds, prevent internal conflicts of interest, provide clear disclosure documents, and prohibit proprietary trading by related accounts.

Trading Registration System: Establish a transparent, liquid, and resilient market structure while protecting retail participation.

Inter-agency collaboration: Requires the CFTC and the United States Securities and Exchange Commission )SEC( to coordinate necessary joint regulations.

Ensure self-custody and innovative technology applications.

Establish new sources of funding to ensure that the CFTC has a stable financial source to promote regulatory systems.

Boozman further pointed out that if the bill passes, he will work with senators and the Trump administration to ensure that the CFTC has enough manpower and resources from day one to carry out its new mission.

Booker pointed out three major concerns: strengthening of human resources and coordination mechanisms is needed.

Booker emphasized that this draft is just the first step and that it must undergo detailed discussion and revision in the committee before it can be sent to the Senate for a vote. He particularly pointed out three key issues that still need to be addressed:

CFTC lacks manpower and resources.

The coordination mechanism between the two party members is unclear: it may lead to regulatory arbitrage.

Corruption among public officials and the risk of regulatory abuse: Congress needs to design more rigorous anti-corruption measures.

Booker calls on congressional colleagues and industry stakeholders to work together to improve the legislative framework.

)Cynthia Lummis: Striving for the successful legislation of the Clarity Act in November, with an estimated increase in crypto tax revenue of 600 million dollars over 10 years(

This article discusses the bipartisan proposal “Market Structure Discussion Draft” from the U.S. Senate, highlighting 6 key points at a glance. It first appeared on Chain News ABMedia.