Momentum is building in Washington to pass a comprehensive crypto market structure bill, but compromises will be necessary to move it through the US Senate, according to a senior White House advisor. As lawmakers face tightening political timelines ahead of the midterm elections, the window for bipartisan agreement may be narrowing.
Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, said the passage of a crypto framework is a matter of timing rather than possibility. He argued that allowing a multi-trillion-dollar digital asset industry to operate without clear federal rules is no longer realistic.
The proposed legislation aims to clarify how the Securities and Exchange Commission and the Commodity Futures Trading Commission would divide oversight of crypto markets, a long-standing point of contention in the industry.
Despite general support for regulatory clarity, some industry groups have raised concerns that parts of the bill are too restrictive on stablecoins and decentralized finance protocols. These objections have complicated negotiations, prompting Senate Banking and Agriculture Committees to delay scheduled markups in order to gather broader bipartisan backing.
Witt warned against delaying action, stressing that the current political environment presents a rare opportunity. With a pro-crypto administration, congressional control, and regulators positioned to shape the rules, he said lawmakers should avoid letting disagreements stall progress.
He emphasized that passing an imperfect bill now may be preferable to facing stricter legislation later, particularly if political control shifts after the midterms.
Republicans are pushing to secure policy wins before November, when control of Congress will again be contested. Even modest changes in the balance of power could significantly affect the future of crypto regulation in the United States.The debate underscores a central reality: crypto regulation is coming, and compromise may be the price of certainty. Whether lawmakers can bridge differences in time will shape the industry’s regulatory landscape for years to come.
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.