David Sacks Leads U.S. Crypto Market Structure Bill Efforts

TLDR

• David Sacks aims for a crypto bill by September 2025.
• Legislation impacts major cryptocurrencies like Bitcoin and Ethereum.
• Regulatory clarity may enhance institutional investment in crypto.

David Sacks, known as Trump’s “crypto czar,” has been working towards a U.S. crypto market structure bill with an expected completion by September 30, 2025. This legislative effort is being led by Senators Tim Scott and Cynthia Lummis, as they aim to bring clarity and structure to the digital asset market.

Before joining the Trump administration, David Sacks had a significant presence in Silicon Valley, holding roles at PayPal, Yammer, and investing in various technology and crypto ventures. He has been focusing on digital asset policy since his appointment in 2025, advocating for clear regulations around crypto assets.

Targeted Timeline and Legislative Goals

David Sacks has expressed gratitude to Senators Scott and Lummis for establishing a timeline for the crypto market structure bill. The administration aims to introduce the bill before the August congressional recess and expects the Senate to review it by September’s end. President Trump has shown support for this initiative, emphasizing regulatory clarity and federal backing for stablecoin development.

Although details regarding funding allocations or investment programs related to the legislation are not yet public, the initiative is expected to enhance market confidence and potentially attract significant institutional capital to U.S. digital assets. The “Genius Act,” a crucial stablecoin legislation, seeks to create a regulatory framework for stablecoins, likely encouraging both traditional finance and crypto-native firms to participate.

Potential Impact on the Market

The legislation primarily affects major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), dependent on their classification as securities or commodities. Stablecoins and their issuers face a potential federal licensing regime under the Genius Act. Additionally, altcoins and governance tokens in DeFi could see impacts as token classifications and activities are clarified.

Historically, major legislative changes prompt responses in on-chain data, including total value locked and liquidity flows, though notable shifts in response to this bill have not yet occurred. Past instances, such as the MiCA framework in Europe, suggest that institutional inflows may accelerate once clear guidelines are implemented, particularly for U.S.-based DeFi and Layer 1-2 protocols.

Key Stakeholders and Sentiments

Assets likely to be most affected include Layer 1 cryptocurrencies like ETH, BTC, SOL, and prominent DeFi protocols such as Uniswap (UNI), Aave (AAVE), and Curve (CRV). Stablecoins like USDC and USDT, along with new stablecoin projects seeking federal licenses, are also under focus. Opinions from key opinion leaders in the crypto space have been lacking as of this writing, though industry figures generally highlight the essential role of regulatory clarity for mainstream adoption.

Sentiments from regulatory bodies such as the SEC and CFTC focus on defining the security versus commodity nature of tokens, aligning with the legislative goals of the new bill. Community and developer opinions on public forums are mostly supportive, with an emphasis on fostering innovation that keeps the U.S. competitive globally.

The efforts to establish a crypto market structure bill by September, led by David Sacks and supported by Senators Scott and Lummis, marks a significant milestone. The anticipated legislation is expected to impact ETH, BTC, stablecoins, and governance tokens with possible long-term outcomes that include increased institutional involvement and clearer innovation paths in America.