Trump Signals Crypto Bill to Give CFTC Control Over Bitcoin and Ethereum Markets

• SEC and CFTC will split oversight, with CFTC mainly regulating Bitcoin and Ethereum
• Crypto exchanges will have 180 days to register as Congress finalizes new market rules

The United States is moving closer to finalizing the cryptocurrency regulations, as President Donald Trump signals that the crypto bill could pass soon. The proposed legislation, known as S.3755/H.R.3633, aims to clearly define how digital assets are regulated, and lawmakers say that this could provide the long-needed clarity for the crypto exchanges and investors. 

Key Feature of this Bill

The goal of this bill is to separate the regulatory authorities into two agencies. The Securities and Exchange Commission (SEC) would regulate crypto assets classified as securities, and the Commodity Futures Trading Commission (CFTC) would regulate digital assets such as Bitcoin and Ethereum. Under the proposal, the CFTC would take primary control over the NYC and ETH markets. The crypto exchanges and brokers have been given a 180-day period to register with the new framework once the bill becomes law. 

The crypto bill is already approved by the United States House of Representatives, but the United States Senate still needs to approve it. One Senate committee already passed its version with a very close vote of 12-11. Another Senate committee still needs to fix the difference between the bill versions. Lawmakers are rushing to finish everything before the February 28 deadline set by the White House. 

If approved, the bill would require the SEC and SFTC to work together within 18 months to create detailed rules, such as mixed digital asset transactions and margin trading structures. Some industry participants, such as Coinbase, have criticized the earlier version of the bill. Supporters believe that the legislation will bring stability and encourage institutional participation.

If this bill is passed, then it would represent one of the most significant regulatory changes in the U.S., which clearly defines who regulates the crypto assets and provides registration guidelines for the exchanges. It also creates the formal framework for stablecoins. However, the final approval depends on whether the Senate can reconcile its draft and meet the deadline.  

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