US industry watchdogs oppose draft bill on crypto market structure

“The intention behind the thorough digital possession expense was to establish a regulatory framework in the United States, encompassing well-defined guidelines and standards for the crypto market. The focal point of the draft expense revolves around the participation of the U.S. Securities and Exchange Commission (SEC) in managing the regulatory framework.Screenshot of the crypto markets costs opposition sign-on letter. On the other hand, different jurisdictions in Europe and Asia are actively making every effort to accommodate crypto services transferring away from the United States.Magazine: Crypto guideline: Does SEC Chair Gary Gensler have the last say?