Cryptocurrency Industry "Can't Wait Any Longer"...Urges Swift Processing of Market Structure Bill

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The U.S. cryptocurrency industry has taken collective action to resolve regulatory uncertainty. Major virtual asset organizations are strongly urging the swift processing of the U.S. cryptocurrency market structure bill.

According to Cointelegraph on April 23 (local time), major organizations including the Blockchain Association and the Crypto Council for Innovation sent a joint letter to the U.S. House of Representatives. They emphasized that the markup process for the U.S. cryptocurrency market structure bill must proceed without delay. They argue that establishing a clear regulatory framework for the virtual asset market is essential for national competitiveness.

The industry pointed out that the current regulatory vacuum is severely hindering innovation. They explained that the jurisdictional dispute between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) is exacerbating market confusion. The U.S. cryptocurrency market structure bill focuses on clearly defining the roles of each agency to enhance legal predictability. The organizations stated, "Clear regulation is the top priority for investor protection and market stability."

Political movements are also urgent. The House Financial Services Committee is deliberating the bill and coordinating its detailed provisions. Virtual asset organizations warned that if the bill is not passed, innovative companies could move overseas. There is a strong call for accelerating the legislative process for the U.S. to maintain its leadership in the digital asset market.

Upon the bill's passage, the virtual asset market is expected to reach a new turning point. This is because the acceleration of institutional integration will lay the groundwork for a large influx of institutional funds. The industry expects this markup process to be a decisive opportunity to end the regulatory war. The market's attention is focused on this crucial legislative process that will determine the next decade of the cryptocurrency ecosystem in the United States.

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