đš US Crypto Bill Drama Is Heating Up
The White House is pushing hard to save the US crypto market structure bill, even as reports suggest support was nearly pulled due to growing industry resistance.
At the center of the debate, Trumpâs crypto advisor Patrick Witt is calling for compromise, urging crypto leaders to capitalize on the current pro-crypto political window đą
With a crypto-friendly president, supportive lawmakers, and regulators at the SEC and CFTC open to clear rules, Witt says this may be the best chance to pass meaningful legislation.
However, cracks are forming within the industry. Brian Armstrong, CEO of Coinbase, recently said he would ârather have no bill than a bad bill,â triggering backlash. Witt responded by saying such confidence exists only because of the current administrationâs crypto-friendly stance.
âïž Why this matters:
The bill aims to clearly define SEC and CFTC authority, regulate stablecoins, and bring structure to DeFi. Banks continue to oppose crypto firms offering stablecoin yield products, while crypto leaders warn against regulations that could slow innovation.
đ
Whatâs next:
Talks between crypto firms and banks are expected to continue at Davos, and the Senate Agriculture Committee has set January 27 for the next markup.
đŹ Bottom line:
A US crypto market bill is coming. The question is not if, but when. Compromise may decide how fast the US secures its crypto future.
Will the industry finally align or stall again? —ïž