The probability of the cryptocurrency market structure bill passing the Senate has increased, and the prospects for bipartisan cooperation are optimistic

ChainCatcher news, according to crypto journalist Eleanor Terrett, the U.S. Senate Democrats have released a comprehensive framework for the "Crypto Market Structure Act," sparking optimism among crypto industry figures and some Republican leaders that cryptocurrency market structure reform may find a bipartisan path in the Senate.

An alliance of 12 Democrats has unveiled a detailed framework, indicating that Democrats are ready to join the previously Republican-led efforts to establish clear rules for the crypto market. A key Republican advocate, Senator Cynthia Lummis, praised this bipartisan effort. The Democratic framework is based on seven key pillars, aiming to clarify token jurisdiction, enhance regulation of trading platforms and issuers, combat illegal financial activities and conflicts of interest, and provide regulatory agencies with more enforcement resources. These priorities overlap significantly with the points emphasized by Republicans. The key to a bipartisan agreement lies in the details, particularly regarding differences in regulatory intensity. Republicans have traditionally favored looser regulations, while Democrats tend to prefer stricter rules. Previous reports indicated that the Senate Banking Committee is expected to mark up the market structure discussion draft by the end of September, while the Senate Agriculture Committee will also release a draft covering the CFTC regulatory portion in the near future. The market structure bill is expected to be signed into law by President Trump before Christmas this year.