Senate Draft Would Bar Exchanges From Counting Their Tokens as Financial Resources
Photo: TokenPost
Sen. Cynthia Lummis said Democrats want the stalled Digital Asset Market Clarity Act to bar exchanges from counting digital commodities they or their affiliates originated toward required financial resources. The Senate draft would exclude those commodities from the resources a digital commodity exchange must maintain. The provision governs how exchanges meet financial requirements; it does not prohibit them from creating tokens. Lummis framed the restriction as a Democratic demand and compared tokens created to meet financial requirements with FTX’s conduct before its collapse.
Source: TokenPost
