Updating prior negotiations led by Senate Banking Chair Tim Scott, U.S. crypto market structure bill talks involving lawmakers, the White House, and industry are set to extend into January 2026 due to holidays and unresolved issues on ethics rules, stablecoins, DeFi protections, and SEC authority. Optimism persists despite hurdles.
Talks on the landmark crypto market structure bill—aimed at defining digital assets, market rules, and agency oversight—have reached a critical point. Following chaotic bipartisan negotiations and public disputes highlighted last week, a White House meeting on Thursday, led by President Trump's crypto adviser Patrick Witt, saw industry executives review a draft. However, key disagreements remain: ethics rules targeting officials' crypto profits (implicitly Trump family interests), stablecoin yield ties, SEC token authority, and DeFi safeguards.
The White House rejected Democrats' ethics proposals, while industry and Senate Republicans, per Witt's social media post, prioritize DeFi and developer protections.
Chair Tim Scott stated: “We are making real progress toward passing digital asset market structure legislation that will help cement America’s role as the crypto capital of the world... I welcome the opportunity to have constructive conversations about increasing financial inclusion for more Americans while protecting investors and ensuring the United States remains at the forefront of financial innovation."
Digital Chamber CEO Cody Carbone added: "I've never been so optimistic... There is a real desire and momentum from everyone involved to get this done."
With few legislative days left in 2025 and no confirmed markup hearings in Senate Banking or Agriculture Committees, advancement likely awaits January amid potential budget clashes and nominee votes.
