House Democrats are reportedly drafting a crypto market structure bill that would expand the Securities and Exchange Commission’s powers while reducing the Commodity Futures Trading Commission’s role. The early-stage proposal targets the 120th Congress, which convenes in January 2027, and would build on provisions in Maxine Waters’s 2025 amendment, which the House Rules Committee rejected by an 8-4 vote. It would revive customer protections covering fund withdrawals, security breaches, custody, conflicts of interest, and reserves. The bill would also include ethics provisions targeting the crypto activities of President Donald Trump and other federal officials, potentially making passage more politically difficult.
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