On September 11, U.S. Senate Democrats released the framework for the 'Digital Asset Market Structure Proposal,' aiming to promote bipartisan collaboration. The framework covers seven key pillars, including token jurisdiction, platform regulation, and combating illicit finance, with significant overlap with Republican priorities. Senator Cynthia Lummis praised the bipartisan efforts. The Senate Banking Committee is expected to revise the draft by the end of September, while the Agriculture Committee will also release related content. The proposal may advance by the end of the year.

[Coinbase to Launch LAYER Spot Trading] Coinbase announced that it will launch LAYER spot trading on September 11, supporting the LAYER-USD trading pair. Trading will open in regions meeting liquidity conditions after 9:00 AM Pacific Time.

[Coinbase to Launch KMNO and DOLO Spot Trading Pairs] Coinbase has announced that it will launch spot trading for Kamino (KMNO) and Dolomite (DOLO) on September 11, 2025. The KMNO-USD and DOLO-USD trading pairs will open for trading at or after 9:00 AM Pacific Time, provided liquidity conditions are met.

Institutions hold about 25% of bitcoin ETPs, and according to one survey, 85% of firms already allocate to digital assets or plan to in 2025.