U. S. Lawmakers Move Closer to Crypto Regulation

Progress in Bipartisan Talks

The U.S. Senate is making significant strides in crypto regulations. Recent meetings between Democrats and Republicans indicate a push for a market-structure bill, which could be a major milestone for the crypto industry.

Key Players and Bills

Macquarie, an investment bank, highlights the importance of these discussions, which could shape future crypto laws.
The Senate Agriculture Committee has drafted a bill to grant the Commodity Futures Trading Commission (CFTC) more authority over digital commodities.
The Senate Banking Committee is also working on legislation outlining the Securities and Exchange Commission's (SEC) approach to digital assets.

Timeline and Expectations

Analysts anticipate the Agriculture Committee to review its bill in early 2026, aligning it with the Banking Committee's bill.

Stablecoin Regulations

Federal agencies are actively developing rules for stablecoins:

The FDIC plans to propose standards for stablecoin prudential in early 2026.
The National Credit Union Administration and the Federal Reserve are creating a framework for banks to issue and transact in stablecoins.

Positive Outlook

Macquarie views these developments positively, suggesting they could:

Resolve the turf battle between the SEC and CFTC.
Establish a clear path for token decentralization.
Attract more institutional investors.

Challenges Ahead

Despite optimism, the bill faces several hurdles:

Passing the committee.
Reconciling with the Agriculture Committee's language.
Passing the Senate.
Navigating the uncertainties of a midterm election year.

Future Prospects

Macquarie remains hopeful, predicting the bill could be sent to conference by mid-2026, with a full crypto-law package to follow.

FDIC's Proposal

The Federal Deposit Insurance Corp. (FDIC) has issued its first proposal for a rule governing stablecoin issuance, marking a significant step in the crypto regulatory landscape.