Over 100 crypto firms urge the U.S. Senate to advance review of the market structure bill

Odaily reported that more than 100 crypto companies and industry organizations, including a certain exchange, Circle, another exchange, Ripple, a16z, Paradigm, and Consensys, have jointly sent a letter to the U.S. Senate Banking Committee, urging progress on reviewing the Clarity Act market structure bill.

The bill aims to establish a federal-level regulatory framework for the crypto market. The signatories stated that relying solely on regulatory enforcement is insufficient to create stable rules, and they offered several suggestions, including clarifying the regulatory roles of the SEC and CFTC, protecting non-custodial tool developers, and unifying information disclosure standards. They also warned that legislative delays could lead to capital and innovation outflow. (CoinDesk)