Crypto Market Structure Bill Poised For A Trump Signature, SEC Chief Says

[Ben Graham]

US Securities and Exchange Commission Chair Paul Atkins is confident that a long-awaited crypto market structure bill could find its way into US President Donald Trump’s office for signature before the end of the year.

The SEC chief highlighted ongoing efforts to clarify rules around digital asset trading and said the bill could provide much-needed guidance to investors and trading platforms.

Atkins Expresses Confidence

Atkins, who was confirmed by the Senate in April 2025 in a 52-44 vote, said tokenization and faster settlement systems are part of the next phase for US markets. He argued that a market structure law would give firms and investors clearer signals about which rules apply to trading in digital assets.

Reports have disclosed that the chair sees the bill as fitting the administration’s push to make the US more competitive in crypto.

Lawmakers’ Calendar And Odds

Based on reports from financial analysts, the path to passage is not guaranteed. One market note put the chance of the bill clearing Congress in 2026 at roughly 50-60%, and warned that delays could push final action into 2027.

Other analysts have suggested a longer road, saying implementation of final market structure rules might not be settled for years if political dynamics change.

What Is Being Negotiated

The draft measures under discussion aim to define which federal agency supervises different types of digital instruments, establish standards for trading venues that list tokens, and create clearer reporting rules for market participants.

Reports have disclosed that committee markups are expected before any Senate floor vote, and those sessions will shape the bill’s final text.

Industry Reaction, Market Talk

The optimism expressed by Atkins has been welcomed by industry associations, as they see that clear guidance could lead to more institutional capital flowing into the onshore crypto trading space. On the other hand, the sentiment from many companies is that there is still a level of caution surrounding future regulations.

Although regulators continue to show a level of agreement regarding overall regulation, the details of custody, custody provider(s), and oversight split between various regulatory agencies must be agreed upon by Congress before any definitive progress can be made.

This back-and-forth between Congress and regulatory agencies has caused the markets to react in a pattern of quick positive movements followed by corresponding negative movements due to legislative inaction.

Political Timing Could Matter

The midterm and committee calendars are being watched closely. If the Senate delays key votes, support that exists now could wane or be reshaped by other priorities.

Some commentators argue that fast action would lock in regulatory clarity; others say a rushed law could leave gaps that require later fixes. The debate over speed versus detail is active in Washington.

Featured image from Gemini, chart from TradingView