U.S. Lawmakers Grapple With Diverging Crypto Market Structure Bills

Washington's push to regulate cryptocurrency markets faces mounting complexity as legislative proposals multiply. The White House has prioritized market structure legislation, but consensus remains elusive among lawmakers and industry participants.

Senate Republicans recently circulated an updated draft of their Responsible Financial Innovation Act, while House Democrats advance the CLARITY Act passed in July. A separate Democratic framework emerged this week, creating a three-way policy debate. Industry lobbyists indicate cautious Optimism about the Republican proposal, though concerns linger about potential exchange registration requirements in forthcoming Agriculture Committee drafts.

Patrick Witt of the President's Digital Assets Council emphasized the urgency of finalizing legislation during a D.C. industry event. The competing proposals share some common ground but reflect fundamental disagreements about how to balance innovation with consumer protections in digital asset markets.