US Crypto Bill Could Reshape SEC and CFTC Oversight

The US Senate is moving closer to passing a major crypto market structure bill. Senate Democrats recently held a closed-door meeting, with Majority Leader Chuck Schumer reportedly eager to get the legislation through.

The bill aims to give clearer rules for digital assets, splitting oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It is similar in scope to previous proposals like FIT21, designed to regulate crypto markets more effectively.

Crypto PACs Flex Political Muscle

The Fairshake PAC, a crypto industry political action committee, has been actively building influence ahead of the midterms. Furthermore, the PAC recently raised its war chest to $193 million, up from $190 million in January 2026.

Industry experts say that this level of fundraising rivals some oil and energy sector donations. As it highlights the growing power of crypto lobbying and the push to support pro-crypto candidates in the upcoming elections.

Key Hurdles Remain

Despite progress, major obstacles are still there. Lawmakers are struggling with disputes over President Trump’s crypto ventures, including his connection to World Liberty Financial. These concerns have added a lot of complications to negotiations.

Moreover, another sticking point involves stablecoin yields. Some banks are reportedly resisting Coinbase’s 3.5–5% APY offerings, citing regulatory and financial concerns. Talks between the White House, banks and crypto firms are ongoing, with a February deadline approaching.

Implications for US Crypto Markets

If passed, the bill could greatly change how crypto is regulated in the United States. By dividing oversight between the SEC and CFTC, lawmakers hope to create a more balanced system that protects investors while allowing innovation.

Also, the legislation could make the political influence of crypto firms stronger, especially through PAC contributions. Industry-backed candidates could push for favorable rules and reduce uncertainty around stablecoin yields and digital asset oversight.

What Comes Next

Schumer and Senate Democrats are reportedly pushing for a quick fix. However, resolving the remaining disputes over Trump-linked ventures and bank objections will be key to final passage.

For now, the crypto community is watching closely. The outcome of this bill may set the tone for US crypto regulation for years to come, influencing everything from market oversight to the role of stablecoin yields.

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