The probability of the Crypto Market Structure Bill being passed by the Senate has increased, and bipartisan cooperation has further advanced

According to crypto journalist Eleanor Terrett, USA TODAY Senate Democrats released a comprehensive framework for the Crypto Market Structure Act, sparking optimism among crypto industry figures and some Republican leaders that crypto market structure reform could find a bipartisan path in the Senate. A coalition of 12 Democrats released a detailed framework, indicating that Democrats are ready to join a previously largely Republican-driven effort to establish clear rules for crypto markets. Senator Cynthia Lummis, a key Republican proponent, applauded the bipartisan effort.
The Democratic framework is based on seven key pillars. It aims to clarify jurisdiction over tokens, strengthen regulation of trading platforms and issuers, combat illicit financial activity and conflicts of interest, and provide regulators with more enforcement resources. These priorities often overlap with the Republican emphasis. The key to a bipartisan agreement lies in the details, particularly the disagreement over the strength of regulation. Republicans have historically favored looser regulation, while Democrats have preferred stricter rules.
Previously, it was reported that the Senate Banking Committee is expected to mark amendments to the market structure discussion draft by the end of September, and the Senate Agriculture Committee will also release a draft covering the CFTC regulatory part in the near future. It is expected that the market structure bill will be signed into law by President Trump before this Christmas.