Coinbase, Kraken, and Gemini have urged the U.S. Senate Committee on Agriculture to remove a provision from the digital assets bill that mandates exchanges list only tokens "not readily susceptible to manipulation." The exchanges argue that this requirement could hinder the listing of low-market-cap, low-liquidity tokens and potentially be used by future CFTC chairs to enforce stricter regulations.
The current draft of the bill aims to expand the CFTC's authority over spot markets for digital commodities like Bitcoin and Ethereum. Although the Senate Committee on Agriculture has approved the provisions along party lines, further revisions are anticipated to gain broader Democratic support.
Coinbase, Kraken, Gemini Urge Senate to Remove Anti-Manipulation Rule
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