According to @EleanorTerrett, an incomplete draft of the Senate Banking Committee’s crypto market structure bill circulating ahead of official release says that any token serving as the main asset of an ETF listed on a national securities exchange registered under Section 6 of the Securities Exchange Act as of January 1, 2026 will be classified as a non-ancillary asset and exempt from disclosure filings required of other tokens, source: @EleanorTerrett on X, Jan 13, 2026. According to @EleanorTerrett, this framework would treat XRP, SOL, LTC, HBAR, DOGE, and LINK the same as BTC and ETH from day one, contingent on those ETFs being listed as of January 1, 2026, source: @EleanorTerrett on X, Jan 13, 2026. According to @EleanorTerrett, the circulating draft omits a stablecoin yield section but includes two ethics provisions and a Section 601 developer-protection clause reflecting a DeFi–TradFi compromise after closed-door talks, with securities trade associations like SIFMA concerned about DeFi-driven regulatory arbitrage, source: @EleanorTerrett on X, Jan 13, 2026.