Top Senate Democrat Pushes Crypto Bill as SEC Warns of Risks
Senator Mark Warner, a key Democratic negotiator on a market-structure bill, said Thursday he wants the legislation to pass and pressed lawmakers to deliver clear rules for trading and infrastructure. SEC chief Paul Atkins reinforced that urgency, telling policymakers that durable policy depends on congressional action and warning that a failed bill could leave critical oversight gaps.
The dispute matters for market participants because the bill aims to create a congressional framework for trading venues, custody practices and market integrity — areas that have driven uncertainty for institutional entrants and retail investors alike. Without an agreed law, regulators could be left to rely on enforcement and patchwork standards, prolonging litigation and fragmentation as firms wait for stable, predictable rules. Senate negotiations will be watched closely by exchanges, lenders and crypto firms seeking clarity.