The US Senate bill proposes to exempt Staking, Airdrop, and DePIN from SEC regulations.

The U.S. Senate Banking Committee has just released an updated draft of the anticipated market structure bill, bringing significant changes to the regulation of digital assets. Section 101 clearly states that staking, airdrops, and tokens will not be considered securities prior to being legalized, unless there is fraudulent behavior – this provides the necessary legal clarity.

Section 504 provides a specific exemption for the decentralized physical infrastructure network (DePIN) from securities laws, addressing the regulatory ambiguity for projects building real-world infrastructure. The draft maintains important protections under Sections 501, 505, and 506—for DeFi developers, the right to self-custody of digital assets, and open-source innovation—ensuring that regulation does not undermine the core principles of blockchain.

Finally, Sections 701 and 702 establish a formal coordination framework between the SEC and CFTC to streamline oversight and reduce jurisdictional conflicts. If passed, the law will significantly reshape crypto regulation in the US while promoting innovation and still ensuring fraud prevention.