STATEMENT: Democratic Senators Release Statement on Market Structure Legislation

Washington, DC - U.S. Senators Lisa Blunt Rochester (D-Del.), Ruben Gallego (D-Ariz.),  Mark Warner (D-Va.), Kirsten Gillibrand (D-N.Y.), Cory Booker (D-N.J.), Catherine Cortez Masto (D-Nev.), Ben Ray Luján (D-N.M.), John Hickenlooper (D-Colo.), Raphael Warnock (D-Ga.), Adam Schiff (D-Calif.), Andy Kim (D-N.J.), and  Angela Alsobrooks (D-Md.) today released the following statement:

"Last week, we released a framework on market structure legislation, highlighting our desire to work on this issue. As we stated then, digital assets are a $4 trillion global market that will require a considered and bipartisan approach to regulation.

"We hope our Republican colleagues will agree to a bipartisan authorship process, as is the norm for legislation of this scale. Given our shared interest in moving forward quickly on this issue, we hope they will agree to reasonable requests to allow for true collaboration.

"For this process to work, it must start from a place of mutual understanding. We look forward to engaging with our Republican counterparts in such a manner."

The statement comes after the Senators last week released a framework containing seven key pillars that any market structure legislation should include:

• Closing the Gap in the Spot Market for Non-Security Digital Assets;
• Clarifying the Legal Status of Digital Assets and Regulator Jurisdiction;
• Incorporating Digital Asset Issuers into the Regulatory Framework;
• Incorporating Digital Asset Platforms into the Regulatory Framework;
• Preventing Illicit Finance;
• Preventing Corruption and Abuse; and
• Ensuring Fair, Effective Regulation.

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Senator Lisa Blunt Rochester represents Delaware in the United States Senate where she serves on the Committees on Banking, Housing, and Urban Affairs; Commerce, Science, and Transportation; Environment and Public Works; and Health, Education, Labor, and Pensions.