According to ChainCatcher, Coinbase CEO Brian Armstrong said he has never been more optimistic about the passage of the Crypto Market Structure Act after participating in a meeting held in Washington, D.C. this week. After meeting with lawmakers, Armstrong said: "The Senate strongly supports moving this forward, and members of both parties I met with are ready to pass this legislation. I think this has a great chance of passing. I have never been more optimistic about the passage of the Market Structure Act. This is a train that has left the station."
The bill aims to clarify the responsibilities of financial institutions, such as the Securities and Exchange Commission and the Commodity Futures Trading Commission, in regulating the cryptocurrency market, particularly non-stablecoins like tokenized stocks. Senator Cynthia Lummis previously predicted that the bill would reach President Trump for his signature before the end of the year. Executives from Ripple, Kraken, Circle, Cardano, and venture capital firms a16z, Paradigm, and Multicoin Capital reportedly participated in the meeting.
