U.S. crypto market structure bill clears Senate committee for first time as Trump predicts imminent passage

President Donald Trump declared Tuesday that the long-stalled U.S. crypto market structure bill will pass “very soon,” injecting fresh momentum into Senate negotiations days after the legislation cleared the Agriculture Committee by a narrow 12-11 vote — the first time any crypto market bill has advanced out of committee in the current Congress.

“This legislation will clear up years of uncertainty and is going to pass very soon,” Trump said in brief remarks from the White House briefing room. “It’s time we bring American leadership to the forefront of this industry, and this Crypto market structure bill is the vehicle to do that.”

If enacted, the Crypto market structure bill would provide the most comprehensive statutory framework for digital asset markets in U.S. history, defining regulatory boundaries between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), and laying out clear structural standards for exchanges, brokers, and digital commodities.

Senate Momentum After Months of Gridlock

The Senate Agriculture Committee in late January advanced the Crypto market structure bill in this case the Digital Commodity Intermediaries Act — by a narrow 12–11 vote, marking the first time a crypto market bill has moved out of committee in the 119th Congress.

Sen. John Boozman (R-Ark.), chair of the committee, called the move “a critical step toward creating clear rules for digital asset markets that protect consumers while allowing American innovation and businesses to thrive.”

Still, division remains palpable: Democrats on the committee withheld support, underscoring the broader partisan tensions shaping the bill’s trajectory.

Frameworks and Regulatory Goals

At its core, the proposed Crypto market structure bill seeks to assign primary jurisdiction over digital commodities — including Bitcoin and Ethereum — to the CFTC, a change that would resolve a years-long “turf war” with the SEC over oversight of crypto trading and custody.

Under the bill’s terms:

• Digital commodity exchanges, brokers, and dealers would have 180 days to register with the CFTC after enactment and obtain provisional status while final rules are written. This tight timeline is intended to reduce the current legal ambiguity under which many platforms operate.
• The CFTC and SEC would have 18 months to jointly issue coordinated rules covering complex sectors like mixed digital asset transactions and margin trading.
• Robust customer protections would be put in place, including segregation of customer assets and conflict-of-interest safeguards.

CFTC Chairman Michael S. Selig — who has publicly championed the bill — said that passage would set the United States up as the “gold standard” for digital assets, a status he said is overdue given the rapid growth of global crypto markets.

Industry Reaction: Support and Skepticism

Market participants have responded with a mix of optimism and caution. Pro-legislation groups argue clearing regulatory fog could spur institutional investment and innovation.

Jim Iuorio, a veteran market strategist, told Bloomberg that “clarity in market structure is the number-one thing institutional traders have been calling for; this bill could unlock trillions in capital that have been on the sidelines.”

Yet some major firms have raised concerns. Coinbase, one of the largest U.S. exchanges, previously criticized earlier iterations of digital asset regulatory proposals for imposing overly restrictive conditions on decentralized finance (DeFi) and stablecoins — warnings that continue to reverberate as the Crypto market structure bill evolves.

Deadlines, Next Steps, and Legislative Hurdles

The Senate must still reconcile differing versions of the Crypto market structure bill crafted by its Agriculture and Banking Committees, with the latter focusing more heavily on securities and mixing provisions. Once senators reach a compromise, the measure will need a full Senate vote before heading to the House and ultimately to the President’s desk.

A parallel piece of legislation — the Digital Asset Market Clarity Act, which passed the House last year — is widely seen as complementary to the Senate’s version, setting out a jurisdictional split between the SEC and CFTC that the Crypto market structure bill would operationalize.

Still, obstacles loom: industry analysts caution that political strategy and partisan priorities could stretch final passage beyond 2026. A Washington research group at TD Cowen recently warned the bill might not be enacted until 2027, with enforcement delayed into 2029 without clear bipartisan consensus.

Market Implications and Broader Impact

For traders and investors, the impending Crypto market structure bill represents both opportunity and uncertainty. Clear regulatory rules could unshackle suppressed valuations for commodities currently hampered by litigation and enforcement pressure, but new compliance burdens may also reshape business models across the ecosystem.

Treasury officials, such as Secretary Scott Bessent, have urged Congress to act swiftly, framing the legislation as vital to market stability and growth. Speaking on CNBC earlier this week, Bessent said a comprehensive bill would provide “much-needed confidence” to both institutional and retail participants.

Looking Ahead

As lawmakers press toward resolution, the next few weeks will be pivotal. Trump’s public endorsement — and his prediction that the Crypto market structure bill will pass soon, has injected fresh energy into negotiations at a time when years of legislative progress risk stalling.

Should the bill cross the finish line, it would mark a watershed moment in U.S. crypto policy and redefine the regulatory landscape for the industry.