White House Advisor and Former Chair of the House Financial Services Committee: The Crypto Market Structure Bill Is Expected to Pass Within a Few Months

ZkProver · 2026-02-12T02:50:28+00:00

Legislation on cryptocurrency in the United States is accelerating, with a comprehensive bill expected to pass within a few months. Trump has prioritized it, and the White House is pushing banks to negotiate with crypto companies, with stablecoin yields becoming a major point of contention. Both sides emphasize that DeFi must be included to ensure the effectiveness of market structure laws.

ZkProver

2026-02-12 02:50:28

Abstract generation in progress

ChainCatcher reports that, according to CoinDesk, former Chair of the U.S. House Financial Services Committee Patrick McHenry and White House Advisor Patrick Witt stated at the Ondo Summit in New York that U.S. cryptocurrency legislation is accelerating, and a comprehensive crypto market structure bill is expected to be passed within the next few months.

Patrick McHenry predicts that the final version may be submitted for presidential signature around Memorial Day (May 25). Patrick Witt revealed that Trump has prioritized this legislation, and the White House is pushing negotiations between banks and crypto companies, with drafting teams exchanging drafts. Both sides pointed out that the biggest controversy is stablecoin yields; the industry agrees on banning fraudulent promotion but has disagreements over whether centralized exchanges can pay passive yields.

Patrick McHenry emphasized that without including DeFi, the market structure legislation “cannot succeed,” noting that tokenized lending products are now cheaper than traditional securities lending, indicating strong market demand. Regarding ethical standards, both believe that proposals to overly restrict the spouses of officials are too broad, but more precise compromise solutions could still gain bipartisan support.

Patrick Witt stated that the White House aims to translate high-level principles into concrete legal texts and reach a final agreement that can withstand review by both houses of Congress.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.