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U.S. Senate Banking Committee releases principles for crypto market structure

According to online reports, Eleanor Terrett disclosed that Tim Scott, Chairman of the U.S. Senate Banking, Housing and Urban Affairs Committee, together with Senators Cynthia Lummis, Thom Tillis and Bill Hagerty, jointly issued the principles of cryptomarket structure to guide future cryptocurrency legislation. This principle emphasizes six key directions: 1. Clearly define the legal status of digital assets and distinguish between digital asset securities and commodities. 2. Clearly allocate the responsibilities of regulatory agencies to avoid the emergence of a single and universal regulator. 3. Modernize supervision to promote innovation, including the SEC providing new exemptions for digital asset financing. 4. Protect digital asset traders 'rights and interests, Implement innovation-friendly registration requirements for centralized intermediaries 5. Develop targeted and innovation-promoting anti-money laundering measures 6. Federal financial regulators should welcome responsible innovation and provide clear guidance. This principle places special emphasis on protecting self-custody rights, distinguishes between centralized and decentralized platforms, and recognizes that tokenization is an evolution rather than a fundamental change in financial infrastructure.

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