Industry Unites: 120+ Crypto Groups Push Senate on Market Structure Reform

Over 120 entities from the crypto and blockchain ecosystem are putting serious pressure on US Senators to advance market structure legislation. The collective push signals how unified the industry has become around regulatory clarity—a major shift from the fragmented responses we've seen on previous policy battles.

Why This Matters Now

The signatories represent a cross-section of the crypto landscape: exchanges, custodians, developers, trading firms, and infrastructure providers. That breadth tells us something important: this isn't a fringe ask anymore. When you can get exchanges and developers—groups that don't always see eye-to-eye—aligned on the same letter, you know the issue has real teeth.

Market structure regulation has become the industry's de facto priority in Washington. Why? Because the current regulatory framework is essentially nonexistent. Bitcoin, ethereum, and thousands of other crypto assets operate in a legal gray zone where the SEC, CFTC, and FinCEN all claim partial jurisdiction. That uncertainty kills institutional adoption and stifles innovation. Smart money won't deploy serious capital without knowing which rulebook applies.

What's at Stake

The letter framing this push as "critical" isn't hyperbole. Without clear market structure rules, you get regulatory arbitrage—platforms innovating in jurisdictions with lighter touch regulation, talent and capital flowing overseas, and US exchanges trapped in compliance hell. We've already watched this movie with fintech; the crypto industry doesn't want a repeat.

The timing is deliberate too. With a new Congress and shifting political winds, there's a narrow window to get this done before partisan divisions calcify. The crypto advocacy groups understand this window closes fast if they don't act now.

The Industry's Real Leverage

What makes this letter significant isn't just the number of signatories—it's that these 120+ entities collectively represent millions of users, billions in trading volume, and genuine economic weight. Senators can't ignore that kind of unified constituency noise, especially if those constituents vote and donate.

The letter emphasizes that clear market structure rules would increase regulatory compliance, not undermine it. That's the pitch: we want rules, we just want them to be coherent. That's a smart negotiating posture. It flips the narrative from "crypto wants to avoid regulation" to "crypto wants sensible regulation."