Sen. John Thune signaled that the Senate is likely to miss its target for completing a cryptocurrency market-structure bill before lawmakers leave Washington for an upcoming recess, though he indicated the chamber could still take initial steps on the measure before the break.
Delay Expected Ahead of Senate Recess
Thune, a senior member of Senate Republican leadership, said the deadline to finish work on the digital asset market-structure legislation will likely slip as senators prepare to depart. He added that the bill may nonetheless see preliminary action, suggesting limited floor time or committee activity could begin before lawmakers disperse.
What the Market-Structure Bill Would Do
The proposed legislation is expected to outline how federal regulators divide oversight of digital assets, clarifying the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It would likely address how to classify tokens, set standards for trading platforms and custody, and establish consumer protections—key issues sought by both industry participants and investor advocates.
Context and Next Steps
Congress has weighed several approaches to digital asset oversight in recent sessions, with the House advancing its own market-structure framework in 2024. The Senate has been developing its version, but timing has remained uncertain amid a crowded legislative calendar. A delay past the upcoming recess would push consideration later into the session, extending the period of regulatory ambiguity for U.S. crypto markets.