U.S. Republican Senator Calls for Moderate Approach to Regulating Digital Assets

On July 10, according to Jinshi Data, a key U.S. Senate panel debated proposed digital asset regulations, with Republicans calling for a moderate approach and Democrats warning of potential loopholes and conflicts of interest. Senate Banking Committee Chairman Tim Scott said, "Our job is to set up clear, light-touch guardrails to protect investors, stop fraud, and allow responsible innovation to flourish." He noted that legislation should clearly define which tokens are securities and ensure appropriate illicit finance protections. Republican Senator Hagerty and others released market structure principles last month, calling for a clear definition of the legal status of digital assets and regulatory agencies. The plan largely aligns with the CLARITY Act proposed by the House committee in June. Hagerty said he is not concerned about losing bipartisan support for market structure legislation and predicts that Democrats who support stablecoin legislation will begin to take action. [Deep Tide TechFlow]