The US Senate updated its crypto market structure bill on Friday, adding a key provision to clarify how tokenized assets are regulated.<\/p>\n
The new clause would ensure that stocks and other securities remain classified as securities when tokenized on a blockchain, avoiding potential confusion over whether they should fall under commodities regulation. <\/p>\n
The distinction is important for digital asset firms working on tokenization. Stocks are already regulated as securities. When tokenized, keeping them as securities confirms they stay compatible with broker-dealer frameworks, clearing systems and trading platforms. <\/p>\n
\u201cWe want this on the president\u2019s desk before the end of the year,\u201d Wyoming Senator Cynthia Lummis, a lead sponsor of the legislation, said<\/a> in an interview with CNBC.<\/p>\n Related:\u00a0<\/strong><\/em>CLARITY Act isn\u2019t perfect, but it\u2019s the bill US Congress must pass this summer<\/strong><\/em><\/a><\/p>\n The Senate\u2019s bill, dubbed the Responsible Financial Innovation Act of 2025, clarifies when digital assets should be overseen by the Securities and Exchange Commission versus the Commodity Futures Trading Commission. <\/p>\n Lummis told CNBC that she expects the Senate Banking Committee to vote this month on the SEC-related provisions, followed by a vote from the Agriculture Committee in October on CFTC oversight. A full Senate vote could happen as soon as November.<\/p>\n While the draft has yet to win Democratic backing, Lummis said bipartisan negotiations are in progress. \u201cThere have been efforts to pair Democrats and Republicans on certain sub-issues within the bill,\u201d she noted, hoping to build cross-party momentum.<\/p>\n Related:\u00a0<\/strong><\/em>Crypto bills move forward after nine-hour stalemate on House floor<\/strong><\/em><\/a><\/p>\n Last month, a group of 112 crypto companies, investors, and advocacy organizations urged the US Senate to include protections for software developers<\/a> and non-custodial service providers in its upcoming crypto market structure legislation. <\/p>\n In a letter to the Senate Banking and Agriculture Committees, the coalition warned that outdated financial rules risk misclassifying these actors as intermediaries.<\/p>\n Major players like Coinbase<\/a>, Kraken, Ripple, a16z and Uniswap Labs joined the call, arguing that regulatory uncertainty is already driving developers away. Citing data from Electric Capital, the letter noted that the US share of open-source blockchain developers dropped from 25% in 2021 to 18% in 2025.<\/p>\n Magazine: <\/strong><\/em>Can privacy survive in US crypto policy after Roman Storm\u2019s conviction?<\/strong><\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The US Senate updated its crypto market structure bill on Friday, adding a key provision to clarify how tokenized assets are regulated. The new clause would ensure that stocks and other securities remain classified as securities when tokenized on a blockchain, avoiding potential confusion over whether they should fall under commodities regulation. The distinction is […]<\/p>\n","protected":false},"author":1,"featured_media":28224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016","fifu_image_alt":"","footnotes":""},"categories":[11990],"tags":[723,1210,4281,8035,18505,887,4428,15053],"class_list":["post-28223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-plug","tag-bill","tag-clarifies","tag-crypto","tag-remain","tag-securities","tag-senate","tag-stocks","tag-tokenized"],"rttpg_featured_image_url":{"full":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",0,0,false],"landscape":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",0,0,false],"portraits":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",0,0,false],"thumbnail":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",150,150,false],"medium":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",300,300,false],"large":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",1024,1024,false],"1536x1536":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",1536,1536,false],"2048x2048":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",2048,2048,false],"post-thumbnail":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",370,265,false],"kava-thumb-s":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",150,85,false],"kava-thumb-s-2":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",230,230,false],"kava-thumb-m":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",400,400,false],"kava-thumb-m-vertical":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",370,500,false],"kava-thumb-m-2":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",570,450,false],"kava-thumb-l":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",1170,650,false],"kava-thumb-xl":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",1920,1080,false],"kava-thumb-masonry":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",600,999,false],"kava-thumb-justify":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",640,640,false],"kava-thumb-justify-2":["https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2025-06\/0197a860-75d8-7288-bead-bf95c4c7b016",1280,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PLUG<\/a>","rttpg_excerpt":"The US Senate updated its crypto market structure bill on Friday, adding a key provision to clarify how tokenized assets are regulated. The new clause would ensure that stocks and other securities remain classified as securities when tokenized on a blockchain, avoiding potential confusion over whether they should fall under commodities regulation. The distinction is…","_links":{"self":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts\/28223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/comments?post=28223"}],"version-history":[{"count":1,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts\/28223\/revisions"}],"predecessor-version":[{"id":28225,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts\/28223\/revisions\/28225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/media\/28224"}],"wp:attachment":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/media?parent=28223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/categories?post=28223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/tags?post=28223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Crypto bill splits oversight between SEC and CFTC<\/h2>\n
Crypto firms urge Senate to protect devs in market bill<\/h2>\n