The probability of the "Crypto Market Structure Act" being passed by the Senate has increased, with bipartisan cooperation making further progress.

On September 11, according to crypto journalist Eleanor Terrett, the Democratic Party of the U.S. Senate released a comprehensive framework for the "Crypto Market Structure Act" today, raising optimism among crypto industry insiders and some Republican leaders that reforms to the structure of the crypto market may find bipartisan cooperation in the Senate. A coalition of 12 Democrats unveiled a detailed framework indicating that the Democrats are ready to join the efforts to establish clear rules for the crypto market, which have previously been primarily driven by Republicans. Key Republican advocate, Senator Cynthia Lummis, praised this bipartisan effort. The Democratic framework is based on seven key pillars, clearly targeting token jurisdiction, enhancing regulation of trading platforms and issuers, combating illegal financial activities and conflicts of interest, and providing regulators with more enforcement resources. These priorities overlap significantly with those emphasized by Republicans. The key to reaching an agreement between the two parties lies in the details, particularly regarding differences in regulatory intensity. Republicans have traditionally favored more lenient regulations, while Democrats tend to favor stricter rules. Previous reports indicated that the Senate Banking Committee is expected to mark up the draft discussion on market structure by the end of September, while the Senate Agriculture Committee will also release a draft covering the CFTC regulatory aspects soon. The market structure bill is expected to be signed into law by President Trump before Christmas this year.