Crypto Reps to Fly into DC this Week to Address Market Structure Bill

Representatives from the cryptocurrency industry, including over 50 member companies from various sectors like exchanges, issuers, and miners, are traveling to Washington D.C. this week to engage with Senate offices concerning the Responsible Financial Innovation Act (RFIA), a significant market structure bill. Cody Carbone, CEO of The Digital Chamber, noted that the Senate Agriculture Committee might hold a markup concurrently with the Senate Banking Committee, which Senator Tim Scott indicated would vote on market structure legislation on January 15th. The Digital Chamber has been closely involved in drafting the legislation, which is expected to grant the CFTC greater authority over digital assets, shifting from the SEC's current leading regulatory role. Despite some speculation, such as a TD Cowen notice suggesting passage might be delayed until 2027 due to the 2026 midterm elections, Carbone expressed optimism that there is a strong bipartisan desire to pass the bill early this year before political factors interfere, aiming to avoid further delays caused by potential government funding issues.

(Source：Cointelegraph)