This is what we are looking for now that Congress returns from the summer break and we enter the last four months of 2025.
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The narrative
Welcome to the last four months of 2025. This is what we are looking for in the last third of this year.
Why does it matter
Crypto has already received an important bill this year, the genius law that Stablecoins addresses, but the largest market structure bill remains a work in progress. The Congress returns from the summer break, but there are other problems that you have to deal with, including a financing invoice deadline at the end of the month.
Break down
In the legislative branch, all eyes are in market structure legislation. While the House of Representatives approved the Clarity Law of the Digital Assets Market (Clarity Law) With an overwhelming bipartisan support earlier this year, the Senate has followed its own route, with the Senate Banking Committee that publishes multiple drafts that define “auxiliary assets” and work to create guidelines for the broader cryptographic sector.
Although the bank committee has published several drafts, including one on Friday night, the Senate Agriculture Committee has not yet come so far. Any legislation will need the support of both committees, given that the Banking Committee supervises the stock exchange and values commission and the Agriculture Committee supervises the Trade Commission for Futures of Basic Products.
In addition, this bill will need bipartisan support, given the threshold of 60 votes that will need to advance outside the Senate. The president of the Banking Committee, Tim Scott, established a deadline of September 30 for the Pass, but will be a great impulse, given the innumerable other concerns that the Senate has at this time.
Federal regulators, on the other hand, are also moving quickly. On Tuesday, the Bag and Stock Exchange Future Trade Commission published a joint statement on the Cryptography Spot (although he did not appoint these assets).
On Thursday, the SEC published a public agenda that addresses its short -term priorities with a series of cryptography related elements. The SEC aims to propose a rule on the sale of cryptographic assets in April, as well as possibly addressing a safe port.
And on Friday, the SEC and CFTC published a joint statement announcing that they would continue working to “harmonize” their efforts around cryptographic regulation. To that end, there will be a round joint table on September 29.
Wednesday
- 12:00 UTC (8:00 am et) COINDESK is carrying out a policy and regulation event in Washington, DC, come and say Hello.
If you have thoughts or questions about what I should discuss next week or any other comments you want to share, do not hesitate to send me an email to [email protected] or find myself at bluesky @nikhileshde.bsky.social.
You can also join the group conversation on Telegram.
Look, next week!
