U.S. crypto sector pushes for bipartisan regulatory framework under next Congress

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US crypto bipartisan framework

Highlights

Blockchain Association urges next Congress, under Democratic control, to pass bipartisan digital asset legislation clarifying SEC and CFTC roles and establishing consumer protections.
Industry sees passage of the GENIUS Act and House approval of the CLARITY Act as progress, but the Senate's inaction leaves comprehensive market structure legislation unresolved.
Ongoing regulatory actions by Treasury, banking regulators, SEC, and CFTC alongside pending legislation elevate market uncertainty and signal potential shifts in U.S. crypto sector jobs and capital.

Policy priorities for the next Congress

As outlined by CoinDesk, citing Blockchain Association's Lindsay Fraser, the next Congress is taking up unresolved legislation on digital assets after Democrats are projected to control both chambers. Fraser argues that bipartisan action remains necessary to establish clear rules for issuance, trading and oversight of digital assets, while preserving U.S. competitiveness in financial innovation.

The group, which represents more than 100 U.S.-based crypto organizations, says consumer protection and regulatory certainty should advance together. It points to an Ipsos survey showing 22% of Americans have owned or used crypto, including 24% of Republicans and 21% of Democrats, as evidence that digital-asset use already cuts across party lines.

Among the main priorities is comprehensive market structure legislation defining the roles of the SEC and CFTC, including CFTC oversight of digital commodity spot markets. Fraser also calls for protections for open-source developers who do not control customer funds, and for tax treatment that eases reporting requirements on small transactions while taxing staking rewards upon disposition.

Industry and regulatory impact

Recent legislative action gives the sector a base for further negotiations, with the GENIUS Act becoming law and the CLARITY Act passing the House with support from 216 Republicans and 78 Democrats. But the Senate's failure to advance market structure legislation in September leaves key parts of the regulatory framework incomplete heading into the next session.

Outside Congress, Treasury, banking regulators, the SEC and the CFTC are already shaping the operating environment as they implement the GENIUS Act and pursue separate digital-asset initiatives. That parallel rulemaking increases the stakes for Congress, because statutory clarity could determine how much certainty companies, investors and developers have when operating in the U.S. market.

For the crypto industry, the policy outcome carries implications for where jobs, capital and product development are concentrated. Fraser says Blockchain Association plans to continue working with lawmakers from both parties and with regulators, arguing that the election changes political leadership in Washington, but not the strategic opportunity for the United States to lead in the future of finance.

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