Rulemaking involves individual regulators and agencies fleshing out the details of a law passed by legislators. It can include publishing proposed rules and seeking public comment.
It could take many years for the crypto market structure bill to be implemented due to a lengthy rulemaking process, according to Paradigm’s vice president of regulatory affairs, Justin Slaughter.
The market structure bill has advanced to the Senate committee stage with bipartisan text and ongoing negotiations. It’s set for a markup with the Senate Banking Committee on Thursday, while the Senate Agriculture Committee has delayed its hearing until Jan. 27.
If the House of Representatives and the Senate pass the bill, and US President Donald Trump signs it into law, it could still take nearly two presidential terms for all the rules to come into force, Slaughter predicted in a X post on Tuesday.
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