Paradigm Executive: U.S. Cryptocurrency Market Structure Rules May Take Years to Finalize

According to a ChainCatcher report citing Cointelegraph, Justin Slaughter, Vice President of Regulatory Affairs at Paradigm, stated that even if the U.S. crypto market structure bill is ultimately passed into law, the process of drafting detailed regulations and full implementation could take nearly two presidential terms. The bill is currently being reviewed by the Senate Banking Committee, while the hearing by the Agriculture Committee has been postponed to January 27. Slaughter noted that the bill alone requires 45 rulemaking processes, which will not only span the current presidential term but likely extend until the end of the next term. He cited the 2010 Dodd-Frank Act as an example, where most of the rules not under the jurisdiction of the CFTC were not finalized until between 2013 and 2018, taking between three to eight years. Slaughter will be watching whether Thursday's hearing maintains bipartisan cooperation and pointed out that important bills often face multiple failures before final passage, but he remains optimistic about the likelihood of its passage.