Patrick Witt, Executive Director of the White House Council of Advisors on Digital Assets, announced a major update during Korea Blockchain Week 2025: the long-awaited crypto market structure bill is on track to pass before the end of the year. Witt emphasized that the Biden administration (now under President Donald Trump) is working closely with Congress to overcome remaining hurdles and deliver the bill to the President’s desk.
This marks a significant step toward creating a comprehensive and stable regulatory environment for digital assets like Bitcoin and other cryptocurrencies.
What’s in the Crypto Market Structure Bill?
The new legislation consolidates several previously introduced proposals, including the CLARITY Act and the Responsible Financial Innovation Act. Its main goal is to clearly define the regulatory roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), two key U.S. agencies with overlapping jurisdiction over crypto.
By providing these clear boundaries, the bill aims to reduce uncertainty for both developers and investors. It also builds on the Genius Act, passed earlier in 2025, which focused on establishing regulatory guidelines for stablecoins.
Witt pointed out that bipartisan support for the bill is growing, and lawmakers on both sides of the aisle recognize the need for the U.S. to reclaim its leadership position in global crypto innovation.
U.S. Declares It’s “Open for Business” in Crypto
During his remarks, Witt boldly declared that the United States is “open for business” when it comes to crypto. He noted that the White House is moving “full speed ahead” to create a welcoming environment for crypto firms and bring blockchain innovators back onshore.
One of the key strategies being employed is direct engagement with industry leaders. Witt emphasized that real-time input from founders, developers, and investors is critical to shaping effective and future-proof policies.
With regulatory clarity on the horizon, this bill could usher in a new era of crypto adoption and innovation in the U.S.—and give businesses the legal confidence they’ve long been asking for.
