Senate Majority Leader John Thune plans to bring crypto legislation to the floor for a vote next week, a bill that carries the endorsement of former President Donald Trump. The measure aims to settle a long-running Washington debate: which federal agency gets the final say over cryptocurrency markets.
What the bill does
The legislation would define federal oversight roles for cryptocurrency, drawing clear lines of authority among regulators. For years, the SEC and the CFTC have jockeyed for jurisdiction, leaving exchanges and projects in regulatory limbo. This bill tries to end that. It doesn't create a new agency — it assigns responsibilities to existing ones, based on whether an asset is a security or a commodity.
Trump's backing
Trump has made the bill a priority, pushing Senate Republicans to rally behind it. His endorsement gives the legislation political weight, especially among GOP lawmakers who align with his stance on crypto. Thune, who controls the floor schedule, is moving quickly to get it passed before the August recess.
Next week's floor vote
The vote is expected sometime in the week of July 27. Thune hasn't said whether he has the 60 votes needed to overcome a potential filibuster, but the bill's bipartisan appeal on crypto policy could help. If it passes, the House would need to take up a companion version — a process that could stretch into the fall.
For now, the crypto industry is watching closely. A clear regulatory framework would be a win for exchanges and projects that have been navigating enforcement actions without a roadmap. But the timing is tight, and the Senate's calendar is crowded.
