Recently, Tim Scott, the Chairman of the U.S. Senate Banking Committee, made notable remarks at a meeting in Jackson Hole, Wyoming. He stated that 12 to 18 Democratic senators are expected to support a market structure bill aimed at regulating the digital asset market. This news has attracted widespread attention in the industry.

Currently, the Senate has released a discussion draft of the bill, with the final version expected to be completed by the end of September. The importance of this bill is self-evident, as it will establish clear rules for how the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regulate digital assets, including the spot cryptocurrency market.

It is worth noting that Scott also mentioned that some Democrats, such as Elizabeth Warren, may pose resistance to the advancement of the bill. This indicates that, although the bill may receive a certain degree of bipartisan support, it may still face some challenges during the passage process.

As the digital asset market continues to develop, regulatory issues have always been the focus of industry attention. The introduction of this bill will provide clearer guidance for market participants and help promote the healthy development of the industry. However, how to strike a balance between protecting investor interests and encouraging innovation remains a matter that legislators need to carefully consider.

In the coming weeks, as the final bill takes shape, we will continue to follow the latest developments in this important legislative process.