Coinbase, Kraken, and Gemini have pushed for the easing of rules on high-risk assets in the Senate bill

According to Politico, Coinbase, Kraken, and Gemini proposed to lawmakers earlier this year to remove a provision in the digital asset bill that requires cryptocurrency trading platforms to only list "non-manipulable" digital assets. The three exchanges are concerned that this would make it more difficult to list small-cap tokens.

This amendment occurred after the Senate Agriculture Committee voted to advance the bill in January. The CFTC has long required exchanges to "self-certify" that the product contracts they list are not easily manipulable, but cryptocurrency companies believe this standard does not apply 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. Coinbase's Federal Policy Director Robin Cook stated that they hope to ensure consumers are protected by standards suitable for spot trading.