The U.S. Senate plans to hold a revision meeting for the "Responsible Financial Innovation Act" in the second week of January

On January 1st, after several months of delays, the U.S. Senate Banking Committee is expected to advance the review process of a digital asset market regulation bill in the second week of January. According to reports and informed sources, the committee may hold a revision meeting on the Responsible Financial Innovation Act during the second week of January. This marks a significant breakthrough in the legislative work that has been slow due to Democratic concerns over decentralized finance and the longest government shutdown in federal history. Cody Carbone, CEO of the digital asset advocacy organization The Digital Chamber, stated that in the second week of January, the Senate will hold at least one revision meeting on a pending market structure legislation. Additionally, the U.S. Senate Agriculture Committee is also reviewing its version of the Market Structure Act, which may later be submitted for a full chamber vote. This market structure bill, previously passed by the House of Representatives in July under the name Digital Asset Market Clarity Act (CLARITY), is expected to grant the U.S. Commodity Futures Trading Commission (CFTC) more authority to regulate digital assets. Early drafts of the Senate bill indicate that the CFTC and the U.S. Securities and Exchange Commission (SEC) will collaborate more closely on cryptocurrency regulation.