House Democrats Eye Their Own Crypto Market Structure Bill With a Bigger SEC Role After Sweep
By Micah Zimmerman
AI summary of the source article
House Democrats are discussing plans to introduce a crypto market structure bill next Congress that would expand the SEC's oversight role and reduce the CFTC's authority, while adding stricter ethics rules for federal officials.
Why it matters
TD Cowen’s Jaret Seiberg stated the sweep "closes the door on Clarity for two years" and Democratic investigations "may make it impossible to advance a version of Clarity that the crypto sector could back."
Key facts
- House Democrats plan to craft a crypto market structure bill expanding the SEC's role and reducing the CFTC's authority.
- The proposal incorporates provisions from Rep. Maxine Waters' prior amendment requiring bankruptcy-remote custody, proof of reserves, and expanded SEC and CFTC funding.
- The industry-backed Clarity Act passed the House 294-134 in July 2025 but failed a Senate cloture vote 49-50 in September.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine House Democrats Eye Their Own Crypto Market Structure Bill With a Bigger SEC Role After Sweep House Democrats are discussing a crypto market structure bill built on Rep. Maxine Waters' rejected Clarity Act amendments, with a bigger SEC role, a smaller CFTC role and new ethics limits on President Trump. This post House Democrats Eye Their Own Crypto Market Structure Bill With a Big…