News

Jinse Finance reported, citing Crypto In America, that U.S. Senate staff are racing against the clock to complete the market structure legislative draft before Thanksgiving. At present, it appears that the Senate Agriculture Committee and the Senate Banking Committee aim to have the relevant bills ready for review in early December. Agriculture Committee Chairman John Boozman (Republican, Arkansas) stated that he is committed to this timeline, noting that the government shutdown delayed his original plan to review the bill this week. House Banking Committee Chairman Tim Scott (Republican, South Carolina) had originally planned to complete the review of the banking bill by the end of September, but he has not yet indicated when the portion of the draft under his committee’s jurisdiction will be put to a vote. Since the bipartisan roundtable on Capitol Hill last month, the text of the draft—now a product of bipartisan collaboration—has not been made public, and it remains unclear whether it can be released before the Thanksgiving holiday. The draft leaves several key gaps, including how to regulate decentralized finance (DeFi), and some wording in parentheses has yet to be approved by lawmakers. If the committees can each complete their reviews next month, the two bill texts will be merged into a single piece of legislation and submitted for a full Senate vote. However, with the holidays and year-end approaching, many expect that the voting process and the final passage of the market structure bill will be postponed until next year’s session, with the focus in the second half of next year likely to shift mainly to the midterm elections.

ChainCatcher news, according to The Block, Solana asset reserve company SOL Strategies announced on Monday that it will provide staking services for VanEck's Solana spot ETF. According to the announcement, VanEck has selected SOL Strategies to stake the SOL held by its ETF. The ETF recently submitted an 8-A registration statement to the US SEC, and the staking service will be implemented through the Orangefin validator node, which SOL Strategies acquired last December. Currently, the validator node of this Solana asset company has obtained ISO 27001 and SOC 2 certifications, securing over 610 million Canadian dollars (approximately 437 million US dollars) in staked assets.