Last Quiet Week for Crypto? Congress Set to Tackle Market Structure, Stablecoins, and Tokenization

Cryptocurrency markets may soon face a surge of regulatory activity as Congress returns from recess. RON Hammond, Head of Policy and Advocacy at Wintermute, suggests this week could mark the final lull before significant legislative efforts target digital assets. Lawmakers must address a potential government shutdown by month's end, but crypto regulation remains a priority.

The Senate is drafting its version of a market structure bill, diverging from the House's earlier bipartisan Clarity Act passage. A preliminary draft is expected mid-to-late September. While a shutdown could delay proceedings, key committees appear committed to advancing the legislation this fall.

Market structure debates have simmered for years in the House, but Senate engagement only intensified this year. Senators seek greater ownership of the process, particularly regarding definitions of ancillary assets and decentralization. The coming weeks will test whether Washington's approach fosters innovation or stifles it through premature classification.