The US Crypto Market Structure Act is expected to be completed within a few months

During the Ondo Summit held in New York, former Chairman of the U.S. House Financial Services Committee Patrick McHenry and White House advisor Patrick Witt stated that U.S. cryptocurrency legislation is accelerating and a bill covering the structure of the cryptocurrency market is expected to be completed in the coming months. McHenry expects the final version of the bill to be submitted to the President for signature as early as Memorial Day. Witt revealed that President Trump has made the bill a priority. The issue of stablecoin returns has become the biggest point of disagreement at present, with controversy focused on whether centralized exchanges can pay returns on idle stablecoin balances. McHenry emphasized that DeFi is the foundation of legislation for the structure of the cryptocurrency market, and tokenized lending products have become more cost-effective than traditional securities lending.