Trump today in Davos announced that he will soon sign the Crypto Market Structure Legislation which Congress is working hard on!
In his speech at the World Economic Forum, he said verbatim:
"Now Congress is working very hard on crypto market structure legislation — Bitcoin, all of them — which I hope to sign very soon, unlocking new pathways for Americans to reach financial freedom."
This comes after he signed the GENIUS Act last year (which regulated stablecoins), and now he is pushing to finalize this broader law that will define:
- Asset classification (commodity or security?)
- Distribution of authority between SEC and CFTC
- Clearer rules for exchanges, DeFi, and innovation in general
The main goal: to make America the "crypto capital of the world" and prevent China from advancing in this field.
Current market impact:
- Bitcoin reacted positively at first and went back above $90k, but the market is still volatile and the sell-off happened shortly after (possibly due to other tensions).
- This is considered a major long-term catalyst: clear regulation = greater trust, more institutional entry, higher liquidity.
- But it still hasn't been officially signed – this is "hope" and "very soon", and negotiations in the Senate are still ongoing (there are tensions over points like stablecoin rewards).