CEXs like Coinbase are pushing for relaxation of Senate crypto regulations, demanding a reduction in restrictions on "manipulated assets."

Odaily Odaily reports that leading US crypto exchage Coinbase, Kraken, and Gemini are pushing to amend the Senate Crypto Market Structure Act, requiring the removal or relaxation of listing restrictions on "vulnerable digital assets." This clause previously mandated that exchanges could only list digital assets that are "not easily manipulated." Industry concerns suggest this standard could limit the listing of small-cap tokens on exchanges, thereby impacting liquidity and market development. Sources familiar with the matter said that exchanges submitted revisions to the Senate Agriculture Committee earlier this year, recommending the removal of restrictive wording and emphasizing that the current wording could pose a "barrier to listing" for smaller crypto assets. According to the bill's design, the U.S. Commodity Futures Trading Commission (CFTC) will gain broader regulatory authority over the digital commodities market and will adopt the "self-certification" mechanism found in traditional commodities markets, requiring exchanges to confirm that products are not easily manipulated before listing them. However, the crypto industry believes that digital assets differ structurally from traditional commodity derivatives, and simply applying existing standards is unreasonable and could stifle innovation and market access. An informed source stated that the current revision direction is seen as a "clear demand for regulatory deregulation." A Coinbase policy head stated that the industry supports strengthening regulatory and anti-fraud frameworks but opposes the direct transplantation of standards unsuitable for the spot market, which could affect market liquidity and consumer participation. The bill is reportedly still under negotiation by the Senate's two committees and is expected to undergo further adjustments before being formally submitted to the full Senate for a vote. (Politico)