White House Advisor and Former Chair of the House Financial Services Committee: The Crypto Market Structure Bill Is Expected to Pass Within a Few Months

2026-02-10 02:01:26

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ChainCatcher reports that, according to CoinDesk, former Chairman of the U.S. House Financial Services Committee Patrick McHenry and White House advisor Patrick Witt stated at the Ondo Summit in New York that U.S. cryptocurrency legislation is accelerating, and a comprehensive crypto market structure bill is expected to be passed within the next few months.

Patrick McHenry predicts that the final version may be submitted for presidential signature around Memorial Day (May 25). Patrick Witt revealed that Trump has prioritized this legislation, and the White House is pushing banks to negotiate with crypto companies. Drafting teams have exchanged drafts. Both sides pointed out that stablecoin yields are the biggest point of contention; the industry has reached a consensus on banning fraudulent promotions, but there are disagreements over whether centralized exchanges can pay passive yields.

Patrick McHenry emphasized that without including DeFi, market structure legislation “cannot stand,” noting that tokenized lending products are now cheaper than traditional securities lending, indicating strong market demand. Regarding ethical standards, both agreed that proposals to overly restrict officials’ spouses are too broad, but more precise compromise solutions could still gain bipartisan support.

Patrick Witt stated that the White House’s goal is to translate high-level principles into concrete legal texts and reach a final agreement that can withstand review by both the House and Senate.

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