Fed Governor Waller: Crypto market structure bill deadlocked in Congress

JH Kim

Summary

Fed Governor Christopher Waller said discussions over the crypto market structure bill (the CLARITY Act) have fallen into a deadlock in Congress.
Waller was reported to have noted that if regulatory uncertainty persists, confusion among market participants could continue, underscoring the need for a clear legal framework.
Markets are watching to see how a series of remarks by Fed officials may affect legislative discussions and the timeline for advancing the bill.

Christopher Waller, a member of the Board of Governors of the U.S. Federal Reserve (Fed), said discussions in Congress over the crypto (digital asset) market structure bill, the CLARITY Act, have fallen into a deadlock.

According to Walter Bloomberg, an economic news alerts account, on the 9th (local time) Waller said that “discussions over regulatory clarity for the crypto market structure bill are currently not making progress in Congress.”

He was also reported to have pointed out that regulatory uncertainty persists across the broader crypto industry, adding that without a clear legal framework, confusion among market participants could continue.

The crypto market structure bill focuses on defining the legal nature of digital assets and clarifying supervisory authority between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). However, disagreements over detailed provisions are delaying deliberations.

While related hearings and closed-door meetings have recently continued in both the House and Senate, the timeline for moving the bill forward remains unclear as partisan differences and industry interests intertwine. Markets are watching to see what impact repeated comments from Fed officials may have on legislative discussions.