Crypto exchanges push lawmakers to soften token listing rules

The crypto industry's influence on legislation has been highlighted by a recent report detailing how cryptocurrency exchanges pressured lawmakers to remove provisions that could affect token listings.

According to Politico, Coinbase, Kraken, and Gemini requested that senators scrap language in the CLARITY Act market structure bill, which would have required platforms to only offer trading on digital assets 'not readily susceptible to manipulation.'

The edit, which occurred after the US Senate Agriculture Committee voted to advance its version of the bill, is seen as a demonstration of the crypto companies' ability to influence legislation.