A group of 12 Democratic senators in the U.S. has introduced a new bill aimed at regulating the cryptocurrency market. This document serves as an alternative to the CLARITY Act, which was approved by the House of Representatives in July 2025, and aims to enhance investor protection and establish clear rules for participants in the digital economy.
This is reported by Business • Media
Key Provisions of the New Bill
Among the authors of the initiative are Mark Warner, Kirsten Gillibrand, Cory Booker, Adam Schiff, Andy Kim, and other senators. The explanatory section of the document emphasizes that the cryptocurrency market has immense potential, but the lack of regulation creates risks for investors and hinders the industry’s development. The bill proposes a series of changes to the approaches for monitoring the digital asset market:
- closing regulatory gaps — the Commodity Futures Trading Commission (CFTC) will oversee assets that are not securities and establish industry standards for transparency regarding tokens and projects;
- defining the legal status of tokens and coins, creating a clear classification system;
- expanding the SEC’s authority over assets that fall under the definition of securities, applying standard financial market rules to them;
- oversight of decentralized finance (DeFi) and a complete ban on interest payments on stablecoins;
- mandatory registration of platforms with the Financial Crimes Enforcement Network (FinCEN);
- implementation of anti-money laundering and counter-terrorism financing (AML/CFT) policies, as well as a ban on platforms that facilitate circumvention of sanctions.
Restrictions for Politicians and Increased Transparency
The bill also contains strict restrictions for public officials and their families: they are prohibited from issuing and promoting their own tokens. It requires mandatory disclosure of cryptocurrency assets in declarations, as well as reporting of any rewards received related to the promotion of crypto projects.
“We are obligated to do this for the millions of Americans participating in this market, to create clear rules that protect consumers and safeguard our markets. We must also ensure that digital assets are not used to fund illegal activities or line the pockets of politicians and their families,” the politicians stated in a joint declaration.
Additionally, the text of the bill includes increased funding for the CFTC and SEC. This is justified by the need to expand the capabilities of these agencies to oversee the cryptocurrency market and ensure proper enforcement of the new requirements.
Thus, the Democratic bill offers a comprehensive approach to regulating digital assets, contrasting with the previously approved CLARITY initiative, and emphasizes transparency, investor safety, and the prevention of abuses among officials.