Photo: U.S. House of Representatives / Wikimedia Commons / public domain
Democrats swept both houses of Congress on Tuesday, and now they’re getting ready to write their own rulebook for crypto.
House Democrats are discussing plans to build a new crypto market-structure bill for the next Congress around Rep. Maxine Waters’ “Crypto Investor and Consumer Bill of Rights,” an amendment she offered to the Republican-backed Clarity Act in 2025 that was never adopted, according to reporting by crypto journalist Eleanor Terrett.
The proposal under discussion would give the Securities and Exchange Commission a bigger role in policing crypto markets and narrow the role of the Commodity Futures Trading Commission – a reversal of the Republican Clarity Act, which would have shifted much of that power to the CFTC. It would also fold in provisions Senate Democrats had agreed to with Republicans before a September cloture vote, and would likely add ethics rules restricting the crypto activities of President Trump and other federal officials.
Republicans are already dismissing the effort as a “messaging bill.” No final text has been released, so the discussions show Democratic priorities rather than settled policy. The talks follow the Democratic sweep that left the Clarity Act likely dead in its current form.
For anyone who buys crypto on an exchange, the fight matters because it decides who polices the platforms holding their money – and what protections exist if one of them fails.
JBizNews Desk | Washington
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