Crypto firms head to US Capitol ahead of market structure bill

Representatives from cryptocurrency companies are travelling to Washington this week to engage lawmakers ahead of a key market structure bill.

The Digital Chamber said it will host more than 50 member companies to meet Senate offices and discuss the proposed legislation.

The Senate Agriculture Committee is expected to hold a markup on its version of the Responsible Financial Innovation Act alongside the Senate Banking Committee.

Senate Banking Committee chair Tim Scott said the committee would vote on market structure legislation on January 15.

We’ve been very intentional to bring in participants from across the digital asset ecosystem.

Digital Chamber chief executive Cody Carbone said.

He added that the group includes exchanges, token issuers, banks, Bitcoin miners, infrastructure providers and DeFi protocols.

Early drafts of the bill would give the Commodity Futures Trading Commission expanded authority over digital assets.

The Securities and Exchange Commission currently plays the leading role in regulating and enforcing rules for crypto firms.

Investment bank TD Cowen warned the bill may not pass until 2027, with implementation potentially delayed until 2029.

The bank cited the 2026 US midterm elections as a risk to bipartisan support for the legislation.

Republican Senator Thom Tillis has urged lawmakers to act quickly to avoid election-related delays.

Carbone said there was strong momentum to pass the bill before political pressures intensify in Washington.

At the time of reporting, Bitcoin price was $91,266.30.