A landmark crypto market structure bill is advancing through the U.S. legislative process and could be presented to President Donald Trump before Thanksgiving, according to Senator Cynthia Lummis (R-Wyo.). The legislation represents the most significant regulatory framework for digital assets to date and would establish clear guidelines for how financial regulators oversee cryptocurrency markets.
Legislative Timeline and Process
Senator Lummis provided updated timing for the bill’s progression during remarks at the SALT conference in Jackson Hole, Wyoming. The Senate Banking Committee, chaired by Senator Tim Scott, plans to complete its work on the legislation by the end of September. Following this, the Senate Agriculture Committee – which holds jurisdiction over the Commodity Futures Trading Commission (CFTC) – will review the bill through October.
This timeline suggests full Senate approval could come in early November, allowing for presentation to the White House before the Thanksgiving holiday. The bill represents the Senate’s response to the House’s previously passed Digital Asset Market Clarity Act.
Bipartisan Support and Industry Impact
Senator Scott indicated that substantial Democratic support exists for the legislation, with up to 18 Democratic senators potentially voting in favor. This bipartisan backing significantly improves the bill’s chances of passage in the closely divided Senate.
The legislation will define the regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding cryptocurrency oversight. This clarity has been long sought by industry participants who have operated under regulatory uncertainty for years.
What This Means for Crypto Markets
The establishment of clear regulatory guidelines represents a critical development for the cryptocurrency industry. Market structure legislation could:
- Provide definitive classification of digital assets as securities or commodities
- Establish clear jurisdictional boundaries between the SEC and CFTC
- Create standardized reporting and compliance requirements
- Enhance consumer protections while supporting innovation
- Potentially pave the way for broader institutional adoption
The advancement of this legislation reflects growing recognition of cryptocurrency’s importance in financial markets and the need for appropriate regulatory frameworks. Market participants will be watching closely as the bill moves through committee reviews and toward potential presidential approval.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.