Quick Breakdown
- The crypto market structure bill could take many years to fully implement due to extensive rulemaking
- Around 45 separate regulatory rules would need to be drafted after the bill becomes law
- Political hurdles remain, and the bill may face delays before final passage
Even if US lawmakers pass a long-awaited crypto market structure bill this year, the rules that would govern the industry may not fully take effect for many years, according to Paradigm’s vice president of regulatory affairs, Justin Slaughter.
Ok, so here are the main takeaways I have.
First, this bill is still missing a lot of things. There’s nothing at all on ethics (which is going to be a big hang-up for people) nor is there anything on a quorum requirement for the Commissions. The Dems won’t sign a bill that… https://t.co/2ckoCO6QlW
— Justin Slaughter (@JBSDC) January 14, 2026
In a post on X on Wednesday, Slaughter said the bill’s heavy rulemaking requirements could stretch implementation well beyond the current US presidential term and possibly into the next one.
Lengthy rulemaking could delay impact
The proposed legislation has reached the Senate committee stage, backed by bipartisan language and ongoing negotiations. It is scheduled for a markup by the Senate Banking Committee on Thursday, while the Senate Agriculture Committee has pushed its hearing to January 27.
However, Slaughter cautioned that passage alone would not bring immediate clarity to the crypto industry.
The bill reportedly requires around 45 separate rulemakings, meaning multiple regulators would need to draft, propose, and finalize new rules before the law can be fully enforced.
“Given the scope, implementation likely won’t just run through this presidential term, it could take the entirety of the next one as well,”
Slaughter said.
Lessons from Dodd-Frank’s slow rollout
Slaughter pointed to past experience with major US financial reforms to underscore his concerns. He cited the Dodd-Frank Act, passed in 2010 after the global financial crisis, which took years to translate into enforceable regulations.
“Dodd-Frank still isn’t finished today,”
Slaughter noted, adding that most non-CFTC rules were finalized between three and eight years after the law passed.
Rulemaking typically involves publishing draft regulations, collecting public feedback, and issuing final rules, a process that often drags on due to legal, political, and industry pressure.
Before any rulemaking can begin, the crypto market structure bill must still clear Congress, a hurdle Slaughter believes could be just as unpredictable.
“I’ll be watching Thursday to see whether this stays bipartisan or starts to fall apart,”
he said, adding that most major bills “die a few times”
before eventually becoming law.
Despite the uncertainty, Slaughter struck a cautiously optimistic tone, suggesting persistence is often key in Washington.
If you would like to read more articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
