U.S. Crypto Market Structure Bill Targets Presidential Approval by Thanksgiving

Senator Cynthia Lummis (R-Wyo.) confirmed at the SALT conference in Jackson Hole that comprehensive crypto market structure legislation will reach President Trump's desk before Thanksgiving. The bill, which missed Senator Tim Scott's earlier September 30 deadline, is now slated for Senate Banking Committee approval by end-September and CFTC review by October.

The legislation represents a watershed moment for digital asset regulation, explicitly defining jurisdictional boundaries between the SEC and CFTC. Senator Scott anticipates bipartisan support, with up to 18 Democrats potentially backing the Senate's version of the Digital Asset Market Clarity Act.

Market participants view this as the most consequential regulatory development since the inception of cryptocurrency markets. The bill's progression suggests accelerating institutional adoption timelines, particularly for BTC and ETH as benchmark assets.