Democrats plan to push a crypto market structure bill, strengthening the SEC's regulatory authority.

November 5 — According to Fox Business reporter Eleanor Terrett, House Democrats are discussing plans in the next Congress to expand Representative Maxine Waters' 2025 amendment to the Clarity Act, the "Crypto Investor and Consumer Rights Act," into a more comprehensive crypto "market structure" bill.

It is said that the draft plans to incorporate provisions from the Democratic version of the Clarity Act that Waters previously introduced in the House but which were not adopted, as well as some content that Senate Democrats had negotiated with Republicans before debate voting was suspended in mid-September. Key points under discussion include granting the U.S. Securities and Exchange Commission (SEC) a larger role in regulating the crypto market while correspondingly narrowing the authority of the Commodity Futures Trading Commission (CFTC); and possibly adding ethics provisions to restrict crypto-related activities by President Trump and other federal officials. Republicans, for their part, call it a "messaging bill."