Everything you need to know about US cryptocurrency laws: FIT21, GENIUS Act, the stablecoin yield debate, and why Coinbase withdrew support from the latest bill.
2026 marks a pivotal year for cryptocurrency regulation in the United States. After years of regulatory uncertainty, Congress is on the verge of passing comprehensive crypto legislation that could reshape the entire industry.
The GENIUS Act has already become law, establishing the first federal framework for stablecoins. Now, attention turns to market structure legislation that would clarify when cryptocurrencies are securities versus commodities—a distinction that has led to countless SEC enforcement actions.
White House crypto adviser David Sacks stated: "We are closer than ever to passing the landmark crypto market structure legislation that President Trump has called for."
Financial Innovation & Technology Act passes House with bipartisan support
First comprehensive federal stablecoin legislation signed into law
Refined approach to SEC/CFTC jurisdictional allocation
Senate markup delayed after Coinbase withdraws support
White House crypto adviser predicts landmark legislation
Financial Innovation & Technology for the 21st Century Act
Guiding and Establishing National Innovation for U.S. Stablecoins
Crypto Legal and Regulatory Information Technology for Year 2025
The Financial Innovation and Technology for the 21st Century Act (FIT21) passed the House in May 2024 with bipartisan support. It creates a regulatory framework dividing oversight between the SEC and CFTC based on how decentralized a network is.
Tokens with centralized control, securities-like characteristics, or where one entity controls >20% of voting power
Decentralized tokens, commodities, and projects that meet decentralization criteria after initial distribution
Signed into law on July 18, 2025, the GENIUS Act is the first comprehensive federal stablecoin legislation. It establishes clear rules for stablecoin issuers operating in the US.
America's Largest Crypto Exchange
"After reviewing the Senate draft, we cannot endorse it. Some provisions would leave the industry materially worse than the current status quo."
The most contentious issue in the current legislation is whether stablecoin issuers can offer yield to users. This has created a sharp divide between crypto companies and traditional banks.
"Walking away now would not preserve the status quo in practice. It would lock in uncertainty and leave American companies operating under ambiguity while the rest of the world moves forward."
— Arjun Sethi, Kraken co-CEO
Clear regulatory frameworks typically have positive long-term effects on crypto markets. Institutional investors, who have been hesitant due to regulatory uncertainty, may increase allocations once rules are established.
The Senate Banking and Agriculture committees will hold hearings on the market structure bill.
Expect intense debate over stablecoin yield provisions. Industry lobbying will be fierce.
If compromise is reached, comprehensive crypto legislation could become law by summer 2026.
As regulation becomes clearer, ensure you're trading on compliant exchanges. These platforms are well-positioned for the new regulatory environment:
The regulatory landscape is evolving rapidly. Make sure you're trading on compliant platforms and staying updated on policy changes that could impact your investments.
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