The U.S. Senate plans to hold a revision meeting for the "Responsible Financial Innovation Act."

After several months of delays, the U.S. Senate Banking Committee is expected to advance the review process for a digital asset market regulation bill.

According to informed sources, the Banking Committee may hold a markup session for the Responsible Financial Innovation Act. This move signifies a milestone in the legislative process, which has been slow due to concerns from Democratic lawmakers about decentralized finance and the longest government shutdown in U.S. history. Cody Carbone, CEO of the digital asset advocacy organization The Digital Chamber, stated that the Senate will at least hold a markup session on a pending market structure legislation. Additionally, the U.S. Senate Agriculture Committee is also reviewing its version of the market structure bill, which may be submitted for a full vote afterward. This market structure bill, previously known as the Digital Asset Market Clarification Act (CLARITY), passed the House in July and is expected to grant the Commodity Futures Trading Commission (CFTC) more authority to regulate digital assets. Early drafts of the Senate bill indicate that the CFTC and the Securities and Exchange Commission (SEC) will collaborate more on cryptocurrency regulation.