The Daily: Senate unveils updated market structure bill, YZi Labs invests in Genius Trading as CZ joins as advisor, and more

The Senate Banking Committee yesterday unveiled the highly anticipated revised version of the Digital Asset Market Structure and Investor Protection Bill. The updated legislation aims to establish clearer regulatory boundaries for cryptocurrencies, particularly concerning the distinction between securities and commodities. This iteration focuses heavily on strengthening consumer protection measures and providing much-needed clarity on stablecoin issuance and custodial responsibilities for exchanges. This legislative action is expected to trigger significant debate between industry groups and financial regulators over the coming weeks. In parallel corporate developments, venture capital firm YZi Labs announced a substantial strategic investment in the decentralized trading platform Genius Trading. This funding injection is designed to accelerate the development of Genius Trading’s cross-chain derivatives capabilities and expand its global user base. Adding significant weight to the venture, Binance founder Changpeng Zhao (CZ) confirmed he has joined Genius Trading as a strategic advisor. CZ stated his role will focus primarily on scaling global operations and ensuring robust compliance frameworks are established early in the platform’s lifecycle. Separately, the overall cryptocurrency market experienced moderate volatility, with major assets trading sideways following recent macroeconomic data releases, while institutional interest in tokenized assets continued to rise.

Source: The Daily: Senate unveils updated market structure bill, YZi Labs invests in Genius Trading as CZ joins as advisor, and more