SEC and CFTC Take Separate Steps for Crypto Market Following Rejected Senate Bill

The SEC and CFTC have taken separate regulatory steps for the crypto market following the Senate's rejection of a proposed bill on September 15.

The SEC will continue to review a proposal that includes new exemptions for crypto startups until October 20. Coinbase and industry groups have intensified their lobbying efforts in favor of crypto policies during the election period. Following these regulatory steps, major cryptocurrencies such as XRP are nearing local highs.