Coinbase CEO Brian Armstrong recently highlighted the strong bipartisan momentum behind the U.S. crypto market structure bill. Following a series of meetings with both Democratic and Republican senators, Armstrong said there is a shared determination in Congress to advance clear, comprehensive crypto regulations. He emphasized that about 90% of the bill’s details have already been agreed upon, with only a few remaining issues to be resolved. Lawmakers are aiming to move the legislation forward before Thanksgiving.

The push for regulatory clarity is not just about politics—it also reflects the interests of millions of Americans who have adopted crypto. Armstrong stressed the importance of distinguishing between centralized platforms, such as exchanges and custodians, which should be regulated, and decentralized finance (DeFi) protocols, which he believes should remain outside traditional financial oversight to preserve innovation. Recent concerns about leaked draft proposals that would impose sweeping regulation on DeFi were addressed during his discussions with Senate Democrats, who clarified those proposals were not intended as official policy.

Industry leaders, alongside policymakers, view this legislative effort as crucial to providing clear rules for the rapidly evolving digital asset sector. Conversations on Capitol Hill indicate continued collaboration between both parties, with senators and industry executives working to finalize a bipartisan draft. While a few senators are calling for careful, deliberate progress due to the complexity of the legislation, both sides agree on the urgency to deliver a stable regulatory framework.

With Senate bandwidth tightening ahead of the midterms, the crypto industry and lawmakers are racing to complete and pass the market structure bill, signaling renewed hope for meaningful U.S. crypto legislation in the near future.