Senators Seek "Light-Touch Regulation" for Cryptocurrency Market, Democrats Voice Opposition

According to a report by Jinse Finance, a key committee in the U.S. Senate has begun debating proposed regulations for digital assets. Republicans are advocating for a "light-touch" regulatory approach, while Democrats warn of potential loopholes and conflicts of interest. The Senate Banking Committee held a hearing on Wednesday aimed at advancing legislation on cryptocurrency market structure, with the goal of making progress before the committee's September 30 deadline. The House of Representatives is scheduled to review its own proposal next week.