What happened?
David Sacks, the White House AI and crypto czar, said he’s optimistic the U.S. can pass crypto market structure legislation before the end of the year after meeting with both Republican and Democratic lawmakers. Senate Democrats also held a roundtable with top crypto executives to push a market-structure bill, and leaders from big firms like Coinbase and Galaxy signaled bipartisan momentum. There’s still disagreement over details — some proposals worry DeFi supporters — but talks are moving forward with a possible deadline floated for late fall/holiday season.
Who does this affect?
This touches crypto exchanges, wallet providers, DeFi projects, and big industry players who would have to follow new rules, as well as everyday investors and developers building crypto apps. Lawmakers and regulators will also be affected since they’ll need to settle how to define and police different crypto activities. Ultimately, companies that rely on clear rules to scale or raise capital stand to gain, while projects that depend on looser rules could face tougher choices.
Why does this matter?
Passing a market-structure bill would bring regulatory clarity that could spur more institutional investment and higher confidence across the crypto market. Clear rules could boost prices and trading volumes for regulated platforms, but heavy restrictions could chill DeFi innovation and shift activity offshore. In short, the bill could reshape who wins and loses in crypto — from centralized exchanges and big players to smaller decentralized projects — with real effects on market liquidity and investor behavior.