Representative Waters’ 2025 amendment to the unadopted Crypto Investor and Consumer Rights Act could be expanded into a more comprehensive crypto market structure bill, but it won’t be introduced until the next Congress.

According to crypto journalist Eleanor Terrett, who cited three industry figures who had spoken with Democratic staffers, the provisions under discussion include giving the SEC greater authority to regulate crypto, narrowing the CFTC’s role, and possibly adding ethics provisions restricting Trump and other federal officials from engaging in crypto activities. Republicans call it a messaging bill.

The direction is clear: Democrats want the SEC to call the shots on market structure. The broader the SEC’s authority, the further the line defining “which tokens count as securities” will move. The next thing to watch is whether a formal bill text emerges and how it defines the boundaries of those powers.

#加密监管 #U.S. Congress