--
[U.S. Senate Proposes Establishment of SEC and CFTC Joint Committee to Coordinate Crypto Regulation] On September 7, the U.S. Senate introduced a draft of the Market Structure Act, proposing the establishment of a joint committee between the SEC and CFTC to address cryptocurrency regulatory discrepancies. The draft includes provisions to protect DeFi developers, clarify the regulatory treatment of airdrops, and exempt DePINs from securities laws, among other measures. Additionally, the bill calls for the two agencies to form a Digital Asset Joint Advisory Committee to coordinate regulatory approaches. The SEC and CFTC plan to hold a public roundtable on September 29 to discuss regulatory coordination priorities.