House Representatives Finalize Draft of New Crypto Market Structure Bill
House Representatives are finalizing a crypto market structure bill, expected to be released by the end of the month. This aligns with President Trump's goal for stablecoin and market structure legislation to pass by summer's end.
The bill may draw from the Financial Innovation and Technology for the 21st Century Act (FIT21), which aims to make the CFTC the primary regulator for digital asset spot markets, moving authority from the SEC. FIT21 received bipartisan support, with 71 Democrats voting in favor.
Recent hearings by the House Financial Services Committee’s Digital Assets Subcommittee and the House Agriculture Committee focused on authority division between the SEC and CFTC.
The STABLE Act in the House and the GENIUS Act in the Senate await further action after passing committee markups but lacking scheduled floor votes. The GENIUS Act provides state regulators with more authority over stablecoin issuers.