Pro-cryptocurrency senators are preparing to introduce a landmark legislation this month, aimed at dividing the oversight of digital assets between market regulators.

What Happened: Sen. Cynthia Lummis (R-Wyo.) said that the Senate is gearing up to advance its push for crypto-friendly measures, Politico reported Tuesday. The House Republicans have already introduced the CLARITY Act, also known as the market structure bill, set for two separate hearings on Wednesday in the lower chamber’s Financial Services and Agriculture committees.

The proposed legislation aims to split cryptocurrency oversight between the Securities and Exchange Commission, supervised by House Financial…

Read more on Benzinga