Buckeye Reporter

Senators Bernie Moreno (R-Ohio), Tim Scott (R-S.C.), Cynthia Lummis (R-Wyo.), and Bill Hagerty (R-Tenn.) have introduced a discussion draft of legislation focused on the structure of digital asset markets. The draft addresses regulatory issues that fall under the jurisdiction of the Senate Banking Committee.

This legislative effort builds upon the CLARITY Act, which recently passed in the House of Representatives with bipartisan support. The senators are also seeking input from stakeholders through a Request for Information on both the draft itself and broader questions related to digital assets.

Senator Moreno stated, “The GENIUS Act was a critical stride toward ensuring the United States is a leader in Digital Assets. This draft represents the next step in putting a bipartisan regulatory framework on President Trump’s desk and I look forward to continuing our important work to encourage innovation, protect consumers, and strengthen national security and US dollar dominance.”

Chairman Scott added, “My colleagues and I in the House and Senate share the same goal: to provide clear rules of the road for digital assets that protect investors, foster innovation, and keep the future of digital finance anchored in America. I’m grateful for the hard work of our House counterparts to craft smart, bipartisan legislation, and I look forward to building on their work here in the Senate. Working with President Trump, we can deliver a comprehensive, bipartisan regulatory framework for digital assets.”

Senator Lummis commented, “The time for regulatory uncertainty in the digital asset space has come to an end. This discussion draft represents a thoughtful, balanced approach that will provide the clarity our innovators need while providing robust consumer protections. We cannot allow regulatory confusion to continue driving American innovation overseas. Market structure legislation will establish clear distinctions between digital asset securities and commodities, modernize our regulatory framework, and position the United States as the global leader in digital asset innovation.”

Senator Hagerty remarked, “For too long, outdated laws and regulatory uncertainty around digital asset market structure have hindered American innovation and left consumers without adequate protections. This discussion draft demonstrates a strong commitment to unlocking the full potential of the digital asset economy by delivering responsible legislation that reflects input from stakeholders, fosters innovation, establishes consistent guardrails, and ensures the United States remains a global leader in digital asset development.”