Regulatory nominees inch forward, but meaningful progress on U.S. crypto market structure rules remains unlikely before 2026
As December enters its final stretch, Washington’s efforts to advance cryptocurrency policy face a tightening window. Despite active discussion across congressional committees, the legislative process remains slow, leaving major market structure reforms unlikely to pass before the end of 2025.
The House and Senate are down to their final two working weeks of the year, and momentum on crypto-focused legislation continues to lag. While regulatory agencies have taken measured steps to clarify digital asset oversight, lawmakers remain stuck between negotiations, competing priorities and limited floor time.
One of the biggest unresolved issues is the long-awaited market structure framework, which aims to define how digital asset platforms, brokers and issuers are governed at the federal level. Current drafts circulating across committees appear unlikely to reach a markup session before the new year. Both the Senate Banking Committee and the Senate Agriculture Committee are still revising bill text, with no public updates since earlier drafts were released.
Meanwhile, the Senate is showing clearer movement on regulatory leadership. A resolution that bundles nearly 100 nominees — including CFTC Chair nominee Mike Selig and FDIC Chair nominee Travis Hill — is expected to come to a vote next week. Their confirmations would bring new direction to two key agencies shaping crypto policy, though a previous attempt to vote earlier this week was delayed.
With limited time left on the 2025 calendar, the crypto industry may need to recalibrate expectations. Legislative clarity on market structure is increasingly drifting into 2026, leaving agencies to fill the gaps as Congress works through internal negotiations.
More updates are expected once the Senate votes on the regulatory nominees next week.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.