Coinbase, Kraken, and Gemini have pushed for relaxed rules on high-risk assets in a Senate bill.

CoinFeed reported on May 9th, citing Politico, that Coinbase, Kraken, and Gemini proposed earlier this year to lawmakers to remove a clause from the Digital Assets Act that would require crypto exchanges to list only "manipulated" digital assets. The three exchanges worried this would make it more difficult to list small-cap tokens. This amendment comes after the Senate Agriculture Committee voted in January to advance the bill. The CFTC has long required exchanges to "self-certify" that their listed product contracts are not susceptible to manipulation, a standard that crypto companies argue is inapplicable to the spot crypto market. The three exchanges stated that they have been working with Congress for years to push for comprehensive federal regulation of the digital asset market. Robin Cook, Coinbase's Director of Federal Policy, said the goal is to ensure consumers are protected by standards suitable for spot trading.