U.S. crypto legislation has advanced further than ever before. Here’s where the Crypto Bill stands, what’s changed since 2025, and what comes next.
Feb 2, 2026
As some might remember, there was a lot of trouble in US politics the past years regarding crypto currencies and giants like Binance, Ripple, Coinbase etc.
Some would even call it “the war against crypto” which the SEC (U.S. Securities and Exchange Commission) started in December 2020 when it dropped a major lawsuit against Ripple and its XRP currency in the final weeks of Trump's first legislation period.
The problem the commission saw was that XRP sales were unregistered securities, meaning financial investments that are not registered with the SEC and carry high risks of fraud and money laundering as they are not publicly disclosed. The legal battle went on for 4 years and the lawsuit was finally settled in August 2025 under a more crypto friendly SEC.
Other big players in the crypto world have been in trouble in the past 6 years and the topic hasn’t left the headlines due to ongoing lawsuits and a real and growing divide in US politics between pro-crypto and anti-crypto politicians.
Since Trump got reelected in November 2024 (fun fact: that made XRP go through the roof again and increase 300% in value, as of right now) you can say though that the government is moving towards a friendlier climate between crypto and legal authorities as Trump himself supports crypto currencies and made major investments, (co-) owns major businesses in it.
Fast forward to the current situation: The idea of the new government was to finally settle the dispute and to create a legal and clear framework for the government and crypto currencies and for people who invested and continue to invest in them. A milestone happened in July 2025 when President Trump passed the so-called “Genius Act”, the first big step for the so-called “Crypto Bill”.
The “Genius Act”, also referred to as the “Stablecoin Act”, is a federal law that requires stablecoins (a cryptocurrency) to be backed by assets that are ‘reliable’ or ‘real’ such as the U.S. dollar. The act serves as the first step for consumer protection by giving the state a clearer way of supervision.
Since then they have moved on to the next step which is bringing together the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CTFC) to achieve a unified approach on digital assets, meaning crypto and to harmonize the regulation of it. Of course criticism arose a long time ago within the crypto community, when the political debate of cryptocurrency legislation first started. Now with clear steps and actions solidifying - the crypto community is even more calling out politics killing a major idea of crypto innovations, in particular, decentralized finance.
A political action committee (PAC) named Fairshake was formed and raised over 190 Million USD for their campaign and to position itself “against” the bill which will become specifically interesting for the midterms this summer . Fairshake is a pro-crypto, pro-blockchain and pro innovation committee consisting of industry leaders like Coinbase, Ripple and Andreessen Horowitz.
Since Trump has come back in office, things in the crypto landscape have aggressively changed. Major lawsuits were dropped, fraud cases (crypto mogul Justin Sun) were suspended, and a major crypto figure, Binance founder Changpeng Zhao, was pardoned. The very heavy course the Biden Administration started in 2020 against crypto has more than slowed down and the sky seems much brighter again for crypto investors and users.
Digital Assets have characteristics of both commodities and securities, which is why there have been calls for regulations on both ends. The U.S. Senate Agriculture Committee was next in line and voted on the bill on January 29, playing a crucial role by overseeing commodities trading. Even though it was a close vote (11 Republicans voting “Yes” and 10 Democrats voting “No”) the Senate advanced the by marking a milestone because a crypto market structure bill has never passed beyond a Senate Committee.That bill would grant new crypto authority to the CFTC which can be seen as positive among crypto investors and holders. The commission had Caroline Pham (Leading position at crypto company MoonPay) as chairwoman and now Michael Selig, also a Republican, as chairman. With that they’ve had an overall pro-crypto standpoint in the past year, especially compared to the Banking Committee and the SEC.
With that being said the bill also needs to be advanced by the U.S. Senate Banking Committee as it oversees ‘securities and exchange’. And they play a more than crucial role, too, as the SEC was the one who started the whole war with their lawsuits against major crypto companies. This progress looks to be promising for crypto investors and markets, with having tackled a political obstacle that has never been tackled before and facing the old enemy “securities and exchange”.
What also keeps the air so electrified is the sheer fact that the President himself is so involved in the crypto market as the co-founder of his own crypto startup ‘World Liberty Financial’ holding hundreds of millions of his Trump “memecoin”. He agreed to step away from all the businesses he owns or is involved in last year, having his children manage assets, etc.
But critics are still calling him out for being in a massive conflict of interest, having made now billions with multiple cryptocurrencies. And further are saying that nothing he does, none of his political actions are ever unaffected by his personal business interests.
If the Senate Banking Committee agrees on the bill, it'll go to the full Senate for a vote until it ultimately has to be signed by Trump - And he already indicated he would. There are concerns that it might pass the Senate Banking Committee but won’t pass the full Senate because it’ll require a simple majority. It’s not positively backed by any Democrats yet, as it looks like and will need at least 7 Democrats of the full Senate to vote for it. As mentioned above, even though it passed The Senate Agriculture Committee, all Democrats in that Committee voted No - with some even being on the side of crypto holders (e.g. Cary Booker).
Well, there are no provisions in it yet that prevent politicians from profiting from crypto. Obviously they are aiming at Trump and his family’s blockchain empire.
The Public Citizen, a big non-profit organization in Washington even called the whole Crypto Bill or the Clarity Act a “Gryfto Act”, meaning it’s done by grifters who only want to steal money and profit for them themselves. Other concerns they have, like “anti-fraud measures for crypto ATMs” or “bans on taxpayer bailouts for failing crypto firms”, don’t sound like they’ll have a political message as powerful as the main ethical concern. It can be easily understood even by people who have no knowledge about crypto and trading at all.
Quite some promising ones so, let’s not be too negative and wrap this up with major winnings after passing the Agriculture Committee:
The CFTC (Commodity Futures Trading Commission) gets the primary oversight (Big Win!)
It requires rules for crypto exchanges and also brokers
It pushes for strong consumer protections
It also protects software developers & DeFi systems (Big Win!)
Stay tuned. This isn’t over yet and hopefully these big wins aren’t crushed or turned upside down by the next vote in the U.S. Senate Banking Committee because crypto enthusiasts are getting scared the White House will ultimately take the sides of the traditional banks after the recent development.
The White House announced they are meeting with Crypto and Banking CEOs today - to discuss the bill further and hopefully get closer to a compromise. We will update the information according to this.
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