David Sacks: Crypto Market Structure Legislation Closer Than Ever, Crypto Industry Should Seize Current Window to Resolve Remaining Differences

January 15th: David Sacks, the White House’s Crypto and AI Czar, noted that “market structure legislation is now closer to passing than ever before. The crypto industry should leverage the current lull to resolve all remaining differences—now is the optimal time to set industry rules and secure the sector’s future growth.” The White House remains committed to collaborating with Senate Banking Committee Chair Scott, committee members, and industry stakeholders to advance bipartisan-backed crypto market structure legislation expeditiously. As previously reported, key backers including Coinbase opposed the current version of the “CLARITY Act.” The Senate Banking Committee has delayed the bill’s markup hearing, with no clear timeline for its resumption. The legislation seeks to clarify regulatory jurisdiction between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), define when digital assets qualify as securities or commodities, and establish new disclosure requirements.