4-day countdown for the crypto bill: This could be the last legislative opportunity under the Trump administration

The recent remarks by Patrick Witt, head of the White House Cryptocurrency Committee, have sparked widespread attention within the industry. He not only emphasized that the passage of the Crypto Market Structure Act is an inevitable trend but also highlighted how precious the current political window is — the Senate Agriculture Committee will review the bill on January 27, only 4 days away. This is not just a timeline but a critical moment for the industry to seize a pro-crypto government environment.

Why Now Is the Best Window

Patrick Witt’s core argument is straightforward: a multi-trillion-dollar industry cannot operate long-term without a systematic regulatory framework. But the real key lies in the political environment.

Current conditions are indeed rare:

• The Trump administration has a friendly stance towards cryptocurrencies
• The Republican Party controls Congress
• The SEC and CFTC have relatively lenient regulatory environments
• Legislators generally recognize the importance of the crypto industry

In comparison, if this window is missed, and Democrats regain control or a financial crisis occurs in the future, the industry may face punitive regulatory frameworks similar to the Dodd-Frank Act. Witt’s statement that “it’s only a matter of time” implies: if not now, then later will be even more passive.

The Actual Support for the Bill

According to the latest news, the draft of the Crypto Market Structure Act released by the Senate Agriculture Committee has shown good political support:

This means that although not an overwhelming majority, the foundation for legislative progress already exists. The high similarity also reduces the difficulty of coordination between the two chambers.

Industry Internal Compromises and Disagreements

However, not all participants are fully satisfied. According to the latest news, Coinbase has withdrawn support for the Senate Agriculture Committee draft due to objections to clauses involving tokenized stocks, DeFi privacy protections, and stablecoin yields. This directly led to the delay of the scheduled hearing by the Senate Banking Committee.

But it’s worth noting that Ripple CEO Brad Garlinghouse supports fast-tracking crypto legislation, indicating that while there are disagreements within the industry, there is still consensus on the fundamental direction.

Compromise Is a Necessary Price

Patrick Witt explicitly stated that the CLARITY Act may not be perfect, but in order to pass with 60 votes in the Senate, compromise is necessary. He emphasized that perfection should not hinder the pursuit of excellence.

The reality here is:

• No bill can fully satisfy all stakeholders
• The current draft is already a result of multiple interests balancing
• Continuing to haggle over details may cause the entire bill to fail
• If the current political window is lost, restarting the process in the future will face greater resistance

Summary

The passage of the Crypto Market Structure Act has become an inevitable trend, but the time window is indeed limited. The Senate Agriculture Committee’s review on January 27 is a crucial step forward. The industry faces a clear choice: accept a compromised bill in the relatively friendly environment now, or risk losing the legislative opportunity altogether and facing stricter regulation in the future. From Witt’s statements, his position is already very clear — now is the last chance.