Crypto Market Structure Bill Rulemaking May Take Years to Complete

Justin Slaughter, Paradigm's vice president of regulatory affairs, stated that the rulemaking process for the recently advanced crypto market structure bill could take many years, potentially spanning nearly two presidential terms to fully implement. The bill is currently at the Senate committee stage, with negotiations ongoing and upcoming markups scheduled for the Senate Banking Committee and a delayed hearing for the Senate Agriculture Committee. Slaughter noted that the bill requires 45 separate rulemakings, a process that historically takes significant time. He drew a parallel to the Dodd-Frank Act, enacted in 2010, which still has unfinished non-CFTC rules, noting that most of its rules were finalized between three to eight years after passage. Slaughter also expressed caution about the bill's passage itself, suggesting that major legislation often faces setbacks before becoming law.

(Source：Cointelegraph)