Nazia Saeed
- US lawmakers held three roundtables with crypto executives to discuss the BITCOIN Act and a market structure bill.
- Republican leaders are advancing the Responsible Financial Innovation Act, building on the CLARITY Act, to clarify agency oversight of crypto.
- The BITCOIN Act could establish a national Bitcoin reserve of up to 1 million BTC, codifying an executive order from President Trump.
Members of the US Congress convened with cryptocurrency industry executives in three roundtable events this week, exploring potential legislation for a strategic Bitcoin (BTC) reserve and clarifying market structure rules for digital assets.
On Tuesday, lawmakers including Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and other industry figures to discuss the BITCOIN Act, which proposes creating a strategic Bitcoin reserve. The roundtable was hosted by advocacy group Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.
Legislators and the executives at yesterday’s roundtable agree there is a need for a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future. Most attendees are looking for next steps, which may include integrating the SBR within broader policy frameworks.
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Republican focus on crypto market structure
In separate meetings on Tuesday, Republican lawmakers—including House Speaker Mike Johnson, House Financial Services Committee Chair French Hill, and Majority Whip Tom Emmer engaged with executives from major crypto firms, including Coinbase CEO Brian Armstrong. The discussions focused on advancing legislation around market structure, following the CLARITY Act, which passed the House in July.
A follow-up roundtable on Wednesday with the Senate Banking Committee, reportedly including Wyoming Senator Cynthia Lummis, reviewed the Senate’s version of the market structure bill, tentatively named the Responsible Financial Innovation Act. The bill aims to clarify the roles of US financial agencies in overseeing and enforcing cryptocurrency regulations.
These roundtables indicate that Republican lawmakers continue to prioritize crypto legislation after concluding a month-long September recess, signaling ongoing engagement with industry leaders to ensure regulatory clarity and framework development.
Crypto legislation under review
The BITCOIN Act seeks to codify an executive order issued by US President Donald Trump in March, authorizing the government to hold up to 1 million BTC in a national reserve. Meanwhile, the market structure legislation remains under discussion in the Senate, with the goal of defining the regulatory roles of agencies like the SEC and CFTC for digital assets.
