House Democrats Discuss Crypto Bill With Broader SEC Role

House Democrats are discussing a crypto market-structure bill for the next Congress that could expand Securities and Exchange Commission oversight, revive consumer protections and add ethics rules for federal officials, according to a report by journalist Eleanor Terrett. The discussions are preliminary; no draft text or introduction date has been reported. Terrett said her account was based on three industry sources who had spoken with Democratic staffers. The proposal could give the SEC a larger supervisory role and narrow the Commodity Futures Trading Commission’s role. It could also include restrictions related to President Donald Trump and other federal officials, though the details have not been set out. The ideas could draw on a 2025 consumer-protection amendment from Rep. Maxine Waters and provisions negotiated by Democrats and Republicans during earlier Senate discussions. Waters’s amendment proposed round-the-clock customer service, withdrawal access within 24 hours, custody safeguards for customer assets and monthly reserve reports accompanied by auditor attestations. It also included standards for fiduciary conduct and executing customer orders, and limits on...