In a significant development for cryptocurrency regulation, U.S. President Donald Trump announced at the World Economic Forum in Davos that he plans to sign a major crypto market structure bill "very soon." This move is part of a strategic push to position the United States as the global capital for cryptocurrency and artificial intelligence.
Trump highlighted his early support for legislation such as the GENIUS stablecoin act, calling it a key step toward establishing clearer rules for the industry. "Congress is working very hard on crypto market structure legislation, which I hope to sign very soon," Trump stated, adding that clear rules could help unlock new paths to financial freedom for Americans.
The announcement comes amid ongoing negotiations in Congress. The U.S. Senate Agriculture Committee is expected to release an updated version of its crypto market structure bill shortly. This draft aims to clarify contentious issues including digital asset definitions, regulatory oversight, meme coins, listing standards, and funding for regulators.
However, significant hurdles remain. White House Chief of AI and Cryptocurrency David Sacks identified the biggest obstacle in the pending market structure bill as the disagreement over whether stablecoins can provide yield or interest. This conflict pits the banking sector against the cryptocurrency industry. "A compromise where everyone is a little unhappy is a good compromise," Sacks remarked during a CNBC appearance, urging both sides to be flexible.
Progress in the Senate Banking Committee has been particularly slow. A planned markup was postponed recently, with no confirmed date for resumption. The debate intensified after Coinbase withdrew its support for the bill, a move that helped stall the process. Coinbase CEO Brian Armstrong has been meeting with major banking leaders in Davos in an effort to rebuild consensus.
Behind the scenes, congressional staff are preparing for the next phase of negotiations while many crypto executives attend meetings in Davos. White House Crypto Council Executive Director Patrick Witt warned that delaying legislation could backfire, potentially leading to tougher rules under a future administration less friendly to crypto.
Sacks defended the Trump administration's economic performance, citing 5.4% GDP growth in the fourth quarter, falling inflation, and rising productivity. "The business environment hasn't been this good in years. We think 2026 will be an even bigger year," he stated, predicting that banking and crypto would eventually transform into "a single digital asset industry."
