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

2026-02-14 02:46:12

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ChainCatcher reports that, according to CoinDesk, former Chair 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, with drafting teams exchanging drafts. The parties identified stablecoin yields as the main point of contention; the industry agrees on banning fraudulent promotion but is divided on whether centralized exchanges can pay passive yields.

Patrick McHenry emphasized that without including DeFi, the 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 the spouses of officials are too broad, but more precise compromise solutions could still garner bipartisan support.

Patrick Witt stated that the White House aims to translate high-level principles into concrete legal texts and reach a final agreement that can withstand review by both houses of Congress.

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