Crypto Representatives to Engage with Lawmakers on Market Structure Bill
- A markup event for the Responsible Financial Innovation Act (RFIA) is scheduled for next week, potentially involving both the Senate Agriculture and Banking Committees.
- Senator Tim Scott announced that the Senate Banking Committee will vote on market structure on January 15.
- The Digital Chamber plans to bring over 50 member companies to Washington, D.C., to advocate for the bill and educate lawmakers.
- Early drafts of the RFIA suggest increased authority for the US Commodity Futures Trading Commission (CFTC) over digital assets, shifting some regulatory power from the SEC.
- TD Cowen indicated that passage of the RFIA may be delayed until at least Congress in late 2027 due to potential political shifts surrounding the midterm elections in November.
With significant lobbying efforts from various stakeholders within the DeFi ecosystem, there is a concerted push to finalize legislation before political factors complicate proceedings further. The bill aims to clarify regulatory frameworks for digital assets in light of evolving market dynamics.
As discussions advance, key dates such as January’s committee vote will be critical in determining the future of cryptocurrency regulation in the U.S., especially given TD Cowen’s prediction regarding delays until at least late-2027.(Source)
