TechFlow news, June 24 — According to Eleanor Terrett's disclosure, U.S. Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Scott, along with Senators Cynthia Lummis, Thom Tillis, and Bill Hagerty, jointly released principles on cryptocurrency market structure aimed at guiding future cryptocurrency legislation. The principles emphasize six key directions:
- Clearly define the legal status of digital assets by distinguishing between digital asset securities and commodities
- Clearly assign regulatory responsibilities among agencies to avoid a single all-powerful regulator
- Modernize regulations to foster innovation, including new exemptions from the SEC for digital asset financing
- Protect digital asset investors by implementing innovation-friendly registration requirements for centralized intermediaries
- Establish targeted and innovation-supportive anti-money laundering measures
- Federal financial regulators should welcome responsible innovation and provide clear guidance
The principles particularly emphasize protecting self-custody rights, differentiate between centralized and decentralized platforms, and recognize tokenization as an evolution rather than a fundamental transformation of financial infrastructure.
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