Crypto market structure bill talks put SEC role back in focus

House Democrats have begun discussing a crypto market structure bill for the next Congress that would give the Securities and Exchange Commission more oversight and revive investor protections proposed by Representative Maxine Waters. Democrats are discussing a market structure proposal built around Waters’ rejected 2025 investor protection amendment. SEC supervision and a more limited CFTC role are among the ideas under discussion. Ethics provisions could restrict crypto activities involving President Donald Trump and other federal officials. Waters’ earlier proposal included withdrawal deadlines, custody safeguards and monthly proof-of-reserves reporting.