Coinbase, Kraken, and Gemini lobbied U.S. lawmakers to amend a digital asset market structure bill. The exchanges sought to remove language restricting the types of tokens they can list.
The companies opposed a provision requiring assets to be "not readily susceptible to manipulation." They argued the proposed language was overly broad.
The Senate Banking Committee may vote on the legislation as early as the week of May 11. Known as the CLARITY Act, the bill establishes a comprehensive U.S. regulatory framework for digital assets. The legislation shapes future crypto industry operations within the country.