The Banque Committee of the US Senate has now published an updated version of the bill on the structure of the cryptographic market. This specific legislative bill, entitled “Responsible Financial Innovation Act 2025”, now includes new provisions centered on developers, bankruptcy, among others, which are vital for the broader cryptographic industry.
The updated crypto market project reveals protection for blockchain developers
Friday, the regulation of American digital assets took a step forward while the modified bill of the structure of the cryptographic market has evolved from the Bank Committee of the Chamber. The bill, which aims to clearly define the border between digital asset titles and raw materials, among other objectives, now goes to the Senate for another audience, but with some modifications.
In particular, the law on responsible financial innovation now protects blockchain developers to be treated as financial institutions under the laws in terms of existing securities. Consequently, activities such as the provision of interfaces or the creation of portfolios are not regulated as securities relationships. However, promoters are still responsible under anti-fraud, anti-manipulation and anti-balance and protection laws does not apply if someone takes custody of user funds or exercises central control over a system.
The bill also creates a security port for non -buttocks (NFTS), stating that unique digital tokens representing art, subscriptions, tickets or collectibles are not titles simply because they can be sold or can increase in value. Interestingly, secondary sales are also safe, as long as resale does not increase new capital for the original promoter. But the NFTs which are produced en masse, fractionalized or structured as financial allegations remain subject to securities laws.
Meanwhile, a change in the bankruptcy section of the law allocates digital products and auxiliary assets to the same categories as species and securities in bankruptcy rules. Consequently, when a company goes bankrupt, customer complaints are not limited to traditional species or titles, but now explicitly cover cryptography and related digital assets.
Dry & CFTC to set up a joint advisory committee on digital assets
In other important news, the updated financial innovation law offers a joint advisory committee on digital assets, jointly managed by the American Securities and Exchange commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Unlike the previous version of the bill which tilted the surveillance of the Cryptographic Markets Plus to the SEC, this framework pushes the two regulators to work together to study digital assets and provide non -binding recommendations on rules, monitoring and regulatory harmonization.
The organization will include up to 14 non -governmental members of the whole industry, the academic world and the user base, as well as the contributions of the National Institute of Sciences and Technology in a non -voting role. Meanwhile, the total crypto market capitalization is now valued at 3.76 billions of dollars
Britannica, tradingView graphic image
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