Crypto Market Structure Bill Poised For A Trump Signature, SEC Chief Says

Overview

The US Securities and Exchange Commission (SEC) Chair, Paul Atkins, has expressed optimism regarding a forthcoming crypto market structure bill. During a recent interview, he indicated that this legislation could reach the desk of President Donald Trump for signature by the end of the year, potentially providing clarity for investors and trading platforms in the digital asset space.

What Happened

In an interview with Fox Business, Paul Atkins discussed the importance of the proposed crypto market structure bill, emphasizing its potential to clarify trading rules for digital assets. He highlighted that the bill is part of a broader effort to enhance the competitiveness of the United States in the cryptocurrency sector. Atkins believes that tokenization and faster settlement systems are essential for the next phase of US markets, and he views the market structure law as a means to offer clearer signals to firms and investors regarding applicable trading rules.

Atkins, who was confirmed by the Senate in April 2025, noted that Congress is on the brink of modernizing financial markets to better fit the needs of the 21st century. He expressed strong support for Congress to provide clarity on the jurisdictional division between the SEC and the Commodity Futures Trading Commission (CFTC), which is crucial for the effective regulation of digital assets.

Despite Atkins’ confidence, reports indicate that the bill’s passage is uncertain. Some financial analysts estimate the likelihood of the bill clearing Congress in 2026 to be around 50-60%. There are concerns that delays could push final action into 2027 or beyond, particularly if there are shifts in the political landscape. The ongoing negotiations focus on defining which federal agency will oversee various types of digital instruments, establishing standards for trading venues that list tokens, and creating clearer reporting rules for market participants.

Committee markups are anticipated before any Senate floor vote, and these sessions will significantly influence the bill’s final text. The reaction from industry associations has been positive, as they believe that clear regulatory guidance could attract more institutional capital into the domestic crypto trading market. However, there remains a sense of caution among many companies regarding future regulations, as the specifics of custody, custody providers, and oversight responsibilities still need to be resolved.

The back-and-forth between Congress and regulatory agencies has led to market fluctuations, with rapid positive movements often followed by negative reactions due to legislative stagnation. The political timing surrounding midterm and committee calendars is crucial, as any delays in Senate votes could diminish current support or redirect priorities.

From author

The ongoing discussions surrounding the crypto market structure bill highlight the tension between the urgency for regulatory clarity and the need for thoroughness in crafting legislation. As the SEC and Congress navigate these complexities, the outcome will significantly impact both market participants and the broader crypto ecosystem.

Impact on the crypto market

• The proposed bill may provide much-needed regulatory clarity, potentially increasing institutional investment in crypto.
• Industry associations have welcomed the optimism from SEC leadership, which could foster a more favorable trading environment.
• Market reactions may continue to fluctuate based on legislative progress, with both positive and negative movements anticipated.
• The division of oversight responsibilities between the SEC and CFTC remains a critical point of negotiation, influencing future market dynamics.
• Political timing and potential delays in Senate votes could affect the momentum of regulatory changes, shaping the market’s near-term outlook.