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

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The US cryptocurrency industry has taken collective action to resolve regulatory uncertainty. Major virtual asset organizations are strongly urging the swift processing of the US 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 US House of Representatives. They emphasized that the markup process for the US 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 jurisdictional disputes between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are exacerbating market confusion. The US cryptocurrency market structure bill focuses on clarifying the roles of each agency to enhance legal predictability. The organizations stated, "Clear regulation is a top priority for investor protection and market stability."

Political movements are also proceeding urgently. 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 might move overseas. There is a strong voice emphasizing that legislative procedures must be expedited for the US 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 massive inflow 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 critical legislative process that will determine the next 10 years of the cryptocurrency ecosystem within the US.

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