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▲ Bank, U.S. Congress, Bitcoin (BTC), Cryptocurrency Regulation/ChatGPT Generated Image
U.S. political circles have unveiled a large 309-page regulatory draft that will determine the future direction of the cryptocurrency market, initiating a key procedure for the institutional integration of digital assets.
Cryptocurrency media outlet U.Today reported on May 12 (local time) that the U.S. Congress announced the detailed text of the U.S. Crypto Market Structure Bill. This bill defines Bitcoin (BTC) as a digital commodity and strengthens the supervisory authority of the Commodity Futures Trading Commission (CFTC). This is interpreted as a measure to resolve the ongoing jurisdictional disputes with the Securities and Exchange Commission (SEC) and enhance market transparency.
Stablecoin issuers will be subject to a 100% cash-equivalent asset reserve requirement. Issuers must deposit all their holdings in cash or short-term government bonds and undergo regular external audits. Interest payments similar to bank deposits are prohibited, but compensation schemes for network participation are allowed. As a result, the likelihood of major stablecoins like USDC being recognized as institutional payment methods has increased.
Customer asset protection measures will also be strengthened. The bill stipulates a strict separation of exchange assets and customer assets, protecting customer assets from being transferred to creditors even if an exchange goes bankrupt. The right to self-custody through personal wallets is also codified, providing a legal basis for users to directly hold their assets. An environment where major cryptocurrencies, including XRP, can be traded as commodities, free from securities classification disputes, may also be created.
Market entry barriers for large institutional investors are also expected to be lowered. The bill is designed to allow banks to offer custody services and clarify procedures related to Bitcoin spot ETFs. This effectively creates a foundation for institutional funds, which have delayed investments due to regulatory uncertainty, to flow into the market through legitimate channels. Whether Bitcoin can secure additional upward momentum by surpassing the $81,000 mark has also emerged as a market concern.
The U.S. Crypto Market Structure Bill will enter the Senate review process, aiming for full implementation in the second half of 2026. As the U.S. reorganizes its digital asset regulatory standards, the movement to establish an institutional cryptocurrency ecosystem in global financial markets is also accelerating.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*
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