U.S. Senate Prepares Crypto Market Reform Bill for Review

According to PANews, the U.S. Senate Banking Committee is finalizing a draft for crypto market structure reform, with plans to present it to the committee this month and potentially hold a full Senate vote by the end of the year. The draft incorporates feedback from industry stakeholders and lobbying groups, marking the first significant involvement of the Democratic Party in this process. Meanwhile, an internal investigation at the Securities and Exchange Commission (SEC) revealed that text messages from former Chairman Gary Gensler, spanning from October 2022 to September 2023, were permanently deleted due to an IT error. These messages contained crucial information related to crypto enforcement, banking, and coordination with the White House. In response, the SEC has disabled text messaging for employees and enhanced training on record-keeping.