Author
Julia Smith
Author
Julia Smith
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Blockchain Association CEO Summer Mersinger is calling the Senate Agriculture Committee’s (SAG) market structure discussion draft an “important step” in developing a crypto regulatory framework, per a November 11 X post from the digital assets group.
Mersinger Hails New Crypto Market Structure Discussion Draft
According to the Tuesday morning X post, Mersinger believes that the newly-published discussion draft from SAG “marks another important step toward establishing clear, commonsense rules for the digital asset ecosystem.”
The former Commodity Futures Trading Commission (CFTC) commissioner also praised SAG Chairman John Boozman (R-AR) and Senator Cory Booker (D-NJ) for bolstering “bipartisan momentum” following the CLARITY Act’s approval in July by the House of Representatives.
“We look forward to fully reviewing the draft and providing our thoughts as the process moves forward,” Mersinger said. “Continued collaboration between the Senate Agriculture and Banking Committees will be essential to delivering a comprehensive framework that secures America’s place as the global leader in crypto and digital assets.”
Boozman and Booker Boost Bipartisan Blockchain Policy
Mersinger’s commentary comes one day after Boozman and Booker unveiled the novel crypto discussion draft on Sunday, November 10.
The draft lays out several key provisions related to the blockchain industry, including the establishment of a spot market digital commodity regulatory regime with the CFTC.
In addition, the crypto market structure legislation would mandate the United States Securities and Exchange Commission (SEC) and the CFTC to “collaborate on necessary inter-agency rulemakings.”
“The CFTC plays a critical role in maintaining the integrity and stability of our financial and derivatives markets,” Boozman said in a statement.
“As Congress works to expand authority for the commission to oversee the trading of digital assets that are commodities, it’s essential that we also ensure it has the tools, personnel, and resources necessary to carry out this new mission, along with its current responsibilities,” he added.
