Senate market structure bill draft proposes the establishment of a joint committee between the SEC and CFTC to end the turf war in the cryptocurrency sector.

Jinse Finance reported that U.S. senators have released the latest draft of a significant crypto market structure bill, which calls for the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) to establish a Joint Advisory Committee on Digital Assets. This committee aims to bring together regulatory agencies that sometimes treat crypto assets differently. Although the advisory committee only provides non-binding recommendations, each commission must issue a public statement every time the committee submits findings or recommendations, explaining its decision on whether to take action.