Crypto regulation could finally become a real structure. President Donald Trump has just confirmed that a comprehensive crypto structure bill is close to passage. This is not chatter. This is a potential turning point.
For years, the CFTC and the SEC have been fighting over who controls what. It now appears that a clearer settlement could come sooner than expected.
Key takeaways
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Presidential confirmation: Trump signals imminent passage of S. 3755/HR 3633.
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Distribution of jurisdictions: The legislation formally divides oversight between the SEC (securities) and the CFTC (commodities).
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Quick timeline: Provisional registration for exchanges expected within 180 days of enactment.
The House has already moved first. The Digital Asset Market Clarity Act, passed last July, establishes a framework that divides oversight between the CFTC and the SEC. The real bottleneck was the Senate.
In late January, the Senate Agriculture Committee narrowly advanced its own version, the Digital Products Intermediaries Act, in a narrow vote of 12 to 11. That shows how divided the room still is.
There have also been setbacks. Major industry players like Coinbase criticized previous versions, saying they reined in DeFi and made stablecoin rules too restrictive.
By intervening now, Trump is attempting to break this impasse and get the bill across the finish line after previous efforts in the Senate failed.
Under the proposal, the CFTC would take primary control of digital products like Bitcoin and Ethereum. That alone would clear up years of confusion.
The bill also gives broker-dealers and exchanges 180 days to register and obtain provisional status once it becomes law. This is a fast track from the current gray zone in which many platforms operate.
The goal is to end the murky compliance environment that exposes businesses to freezing and counterparty risk.
CFTC Chairman Michael Selig suggested the bill could reach the president within a few months. This aligns with other moves aimed at pushing crypto deeper into traditional finance. The framework would also require joint rulemaking by the SEC and CFTC within 18 months to address complex areas such as mixed trading and margin structures.
Passage of this bill would likely trigger a revaluation of “commodity” assets currently suppressed by SEC lawsuits.
However, obstacles remain. The Senate Banking Committee must still reconcile its version with the Agriculture Committee’s draft before the February 28 deadline at the White House for stable executives.
