Senators are close to finalizing a crypto market-structure bill, but the White House raised concerns over proposed ethics rules tied to digital asset profits connected to President Donald Trump’s family. Bipartisan negotiations have accelerated, aiming to release a draft by the end of the week. Momentum for federal market-structure regulation has increased since the House passed its version in July, reflecting pressure for clearer regulatory boundaries as institutional participation in crypto markets accelerates. The Senate is working on two parallel drafts, with one proposal dividing oversight between the SEC and CFTC and introducing the concept of “ancillary assets” to clarify which cryptocurrencies would not be treated as securities. Another Agriculture Committee draft focuses on expanding the CFTC’s authority. The Senate draft seeks to address issues the House bill did not, including how to regulate decentralized finance exchanges. However, a contentious issue remains regarding an ethics proposal that would restrict elected officials and their families from profiting from digital assets while in office. The White House rejected this language, prompting Senator Lummis to revise and resubmit the provision. Industry groups expect movement on market-structure legislation before year-end, with the potential for a bill to reach President Trump in early 2026 if committees advance a draft this week. Progress on markups would signal Congress is moving closer to finalizing a bill investors have been waiting for.

Read more at Yahoo Finance: Senate Claims Crypto Bill Is Ready, But White House Says ‘Do Better’