Wall Street calls Senate's new bill the most 'consequential' regulation since 1930

Core Insights - The Senate Agriculture Committee has released a draft framework for regulating digital asset commodities, marking a significant step towards comprehensive cryptocurrency regulation in the U.S. [1] - The bipartisan proposal aims to give the Commodity Futures Trading Commission (CFTC) clear jurisdiction over spot digital commodities, establishing formal standards for market integrity, fund segregation, and consumer protection [1][2] Industry Impact - The framework is being referred to as the "Dodd-Frank moment" for digital assets, indicating a crucial link between traditional financial regulation and blockchain innovation [3] - Support from top banking executives and regulators suggests that the new framework could integrate digital assets into the traditional financial system, potentially leading to increased banking adoption [5][6] Regulatory Support - The legislation has backing from the White House, with President Trump prioritizing market structure overhaul to provide regulatory clarity and foster innovation [4] - Industry leaders emphasize that clear compliance requirements will facilitate business operations within the crypto sector, enhancing institutional integration [2][3]