Crypto market bill expected to pass by 2026: Patrick Witt

Patrick Witt, the White House’s executive director for digital assets, says the Senate’s market structure bill is a top priority.

During Korea Blockchain Week 2025, Patrick Witt said he expects a broad crypto market structure bill to pass by 2026. In early September, Witt, who succeeded Bo Hines as executive director of the White House Crypto Council, emphasized the bill’s importance for regulators, businesses, and investors.

The bill, called the Responsible Financial Innovation Act (RFIA), is a bipartisan effort to clearly define the roles of the two main U.S. financial regulators: the SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission). Its main goal is to decide which digital assets are considered commodities (regulated by the CFTC) and which are securities (regulated by the SEC). The bill also sets rules for other parts of the crypto market, including how assets are stored, how trading platforms operate, and how brokers work. By clarifying these rules, the RFIA would help crypto companies operate with confidence and reduce the uncertainty that has often pushed innovation and talent overseas.