Here is what we are now looking for that Congress is back from summer recess and that we enter the last four months of 2025.
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The story
Welcome to the last four months of 2025. Here is what we are looking for in the last third of this year.
Why it matters
Crypto has already obtained a major bill this year – the law on engineering addressing stablescoins – but the largest bill on the structure of the market remains work in progress. The Congress is back from summer recess, but there are other problems that it should face, including a deadline for financing at the end of the month.
Decompose it
In the legislative branch, all eyes are on market structure legislation. While the House of Representatives adopted the law on the clarity of the digital asset market (Act of clarity) With bipartisan support overwhelming at the beginning of this year, the Senate has so far followed its own route, the senatorial banking committee publishing several projects defining “auxiliary assets” and working on the creation of directives for the wider cryptography sector.
While the Banking Committee has published several projects – including a Friday evening – the Senatorial Agriculture Committee has not yet gone so far. Any legislation will need support from the two committees, given that the banking committee oversees the securities and exchanges committee and the agriculture committee oversees the future trading commission.
In addition, this bill will need bipartite support, given the threshold of 60 vote, it will have to advance from the Senate. The president of the banking committee, Tim Scott, has set a deadline for transition from September 30, but it will be a heaviness, given the countless other concerns of the Senate at the moment.
Federal regulators, for their part, also evolve quickly. On Tuesday, the Securities and Exchange Commission and Commission Futures Trading Commission published a joint declaration on trading in cash of the crypto by registered companies, saying that these companies should ask regulators of the councils, but that certain assets were acceptable to negotiate (although he did not name these assets).
On Thursday, the SEC published a public agenda relating to its short -term priorities with a certain number of action articles linked to the crypto. The SEC aims to offer a rule on the sale of cryptographic assets by April, as well as perhaps approaching a security port.
And Friday, the SEC and the CFTC published a joint declaration announcing that they would continue to work to “harmonize” their efforts concerning the regulation of cryptography. To this end, there will be a joint round table on September 29.
Wednesday
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See you next week!
