Republicans on the US Senate Banking Committee have released a draft for discussion on legislation regarding the structure of the digital asset market, indicating a possible alignment with a bill passed by the House of Representatives.
The draft, introduced Tuesday by committee chairman Tim Scott and digital assets subcommittee chair Cynthia Lummis, is based on the CLARITY Act passed by the House of Representatives.
Scott emphasized the bipartisan goals of establishing "clear rules" for cryptocurrencies.
Last week, the House of Representatives passed three bills on cryptocurrencies with bipartisan support, although only the GENIUS Act on stablecoins became law.
Scott and Lummis hope the Senate will pass the bill in October.