House Democrats are discussing turning Maxine Waters’ crypto investor and consumer proposal into a full market structure bill for the next Congress, according to a report citing three industry sources. The proposal began as a 2025 amendment to the CLARITY Act; the talks have not produced an enacted bill.
The draft would include Democratic provisions the House previously rejected and provisions Senate Democrats and Republicans had agreed on before a cloture vote ended that bill. Proposals under discussion would give the SEC a larger role than the CFTC in overseeing crypto markets, while the draft is expected to restrict crypto activities by Trump and other federal officials.
