Trump Declares Imminent Passing of Major Crypto Market Structure Bill
Key Takeaways
Presidential Confirmation: Trump anticipates the imminent approval of the S. 3755/H.R. 3633 framework.
Jurisdiction Allocation: The legislation delineates responsibilities between SEC (for securities) and CFTC (for commodities).
Accelerated Procedures: Exchanges are expected to have provisional registration within 180 days of enactment.
Potential Market Impact: Successful passage could reshape asset valuations currently hampered by regulatory ambiguity.
WEEX Crypto News, 2026-02-19 09:14:34
In a notable development within the world of cryptocurrency regulation, former President Donald Trump has confirmed that a significant piece of crypto market legislation is on the verge of passing through the legislative channels. This announcement marks a potential pivotal moment in the ongoing saga of digital asset regulation in the United States, an arena long characterized by its complexity and often contentious jurisdictional battles between major regulatory bodies. For years, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have been at odds over the appropriate governing frameworks for digital assets. Now, with Trump’s statement, a new chapter seems ready to unfold.
The forthcoming legislation, identified by its bill numbers S. 3755 and H.R. 3633, is said to provide a clear-cut division of regulatory oversight. Specifically, the SEC will take the reins in managing securities-related matters, while the CFTC will oversee commodity trading, which would notably include cryptocurrencies like Bitcoin and Ethereum. This legislative shift is poised to end years of jurisdictional struggles, potentially fostering a more coherent regulatory environment for digital currencies.
A Turning Point in Regulatory Turf Battles?
The House of Representatives has already laid the groundwork, having passed the Digital Asset Market Clarity Act in July 2025. This act set forth a preliminary framework distributing oversight responsibilities between the SEC and CFTC. Yet, the real challenge has been pressing through the Senate. Earlier attempts to advance related legislation met with narrow votes, reflecting the divisive nature of crypto regulation within political corridors. In particular, the Senate Agriculture Committee narrowly moved a version of the Digital Commodity Intermediaries Act forward, indicating tight opposition with a 12 to 11 vote.
Cognizant of these legislative hurdles, Trump has stepped in, leveraging his influence to accelerate the bill’s passage. Critics such as Coinbase have voiced concerns over earlier drafts, highlighting perceived restrictions on decentralized finance (DeFi) platforms and overly stringent stablecoin rules. Trump’s intervention suggests an effort to mediate these disputes and propel the bill towards final approval.
Navigating the Complex Mechanics of the New Bill
Under the proposed framework, digital commodities such as Bitcoin and Ethereum will fall under CFTC jurisdiction, effectively resolving long-standing market ambiguities. This decisive step offers brokers and exchanges a 180-day period to register and gain provisional status once the bill becomes law. This swift process aims to dismantle the current compliance uncertainties that have left many platforms vulnerable to operational risks and regulatory unpredictability.
CFTC Chairman Michael Selig has projected that the bill could be presented to the President within months, aligning with broader strategies to integrate cryptocurrency deeper into traditional financial systems. An essential component of the new framework is a requirement for joint rule-making efforts by the SEC and CFTC within 18 months to address intricate issues such as mixed transactions and the mechanics of margin structures. This co-regulatory approach might signify a more streamlined relationship between these powerful entities, each bringing their expertise to specific facets of digital asset management.
Repercussions for the Crypto Market
The passing of this landmark bill promises to profoundly affect the crypto market landscape. Assets currently considered as “commodities” and facing pressure from regulatory disputes might see a reassessment and possible repricing. While this legislative advancement fosters hope, challenges remain. Notably, the Senate Banking Committee must still reconcile its variant of the legislation with the Agricultural Committee’s version, aiming to meet a crucial deadline for stablecoin regulations set for February 28 by the White House.
Simultaneously, political scrutiny persists, as seen in the Congressional insistence on examining Trump-linked crypto ventures like WLFI. Despite the anticipated resolution of regulatory ambiguities, the specter of political volatility continues to loom over the crypto regulatory advancements.
Industry Sentiment: A New Era or Recurrent Challenges?
The anticipation surrounding this legislative change is palpable within industry circles, highlighting divided sentiment. Some technology executives and market analysts view Trump’s decisive push towards greater clarity as a catalyst for innovation and investment in the crypto sector. They argue that by eliminating gray areas, markets can achieve more stability and attract institutional investors wary of previous regulatory risks.
Conversely, certain factions express skepticism about the potential pitfalls of regulatory overreach. They caution against overly rigid structures that might stifle DeFi initiatives or constrain transformative advances in blockchain technology. The balance between fostering innovation and ensuring necessary oversight remains a delicate dance for legislators and regulators alike.
The Future of Crypto Regulation
The eventual passage of this crypto market structure bill is more than just a regulatory update; it represents a significant inflection point in digital asset governance in the United States. As the bill navigates through the halls of Congress, stakeholders across the financial and technological landscapes are closely monitoring both its progress and its implications. With the global spotlight on the United States, the decisions made in the coming months are likely to echo across international markets, potentially shaping future digital asset regulations worldwide.
In essence, this legislative shift heralds the possibility of an evolved framework where digital and traditional financial spheres harmonize. Such integration is poised not only to empower market participants but also to redefine financial interactions for millions of users embracing new technologies. The unfolding narrative of this pivotal legal process remains one to watch, promising a future where digital cryptosystems are seamlessly incorporated into mainstream financial models.
This is a transformative moment for both cryptocurrencies and traditional financial entities — a moment that could redefine trajectories, forge new alliances, and perhaps initiate trends that will catalyze a new era of economic prosperity, balancing innovation with carefully calibrated regulatory oversight.
Frequently Asked Questions (FAQ)
What is the primary goal of the new crypto market structure bill?
The main objective of the bill is to provide a clear regulatory framework for digital assets by delineating responsibilities between the SEC and the CFTC. This aims to resolve jurisdictional conflicts and offer more precise guidance for digital commodities and securities.
How does the bill impact exchanges and brokers?
Upon enactment, the bill grants exchanges and brokers a 180-day period to register and obtain provisional status. This process is intended to streamline compliance and minimize uncertainties currently faced by many operators in the sector.
What challenges remain in the implementation of the bill?
Key challenges include reconciling differing versions of the bill from various Senate committees before the legislative deadline. Moreover, ongoing political scrutiny, especially concerning ventures with ties to Trump, may impact the overall regulatory environment.
How might this legislation affect the crypto market?
The legislation is expected to trigger a reevaluation of crypto assets classified as commodities, potentially lifting constraints imposed by previous regulatory disputes. This could lead to price adjustments and increased market stability.
Why is Trump’s intervention significant in this legislative process?
Trump’s involvement is pivotal as it seeks to mediate stalled Senate efforts and accelerate the bill’s passage. His influence could help overcome opposition and ensure that the regulatory framework is conducive to both innovation and oversight.
You may also like

Dragonfly Partners: Most agents will not engage in autonomous trading, how can crypto payments prevail?

US AI Startup Goes All In on Chinese Mega-Model | Rewire News Morning Brief

Trump Lies Again: A "Five-Day Pause" Psyop, How Wall Street, Bitcoin, and Polymarket Insiders Synced Uposciogen

When a Token Becomes Labor, People Become the Interface

Ceasefire News Leaked Ahead of Time? Large Polymarket Bets on Outcome Before Trump's Tweet

BlackRock CEO's Annual Shareholder Letter: How is Wall Street Using AI to Keep Profiting from National Pension Funds?

Sun Valley Releases 2025 Financial Report: Bitcoin Mining Revenue Reaches $670 Million, Accelerating Transformation to AI Infrastructure Platform
On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.
• Financial Performance:
Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.
Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.
Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.
• Mining Operations and Costs:
A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.
The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;
The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.
As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.
• Strategic Progress:
The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.
CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."
"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."
The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."
The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.
The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.
This includes:
· Cost of Revenue (excluding depreciation): $1.553 billion
· Cost of Revenue (depreciation): $38.1 million
· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)
· Mining Machine Impairment Loss: $81.4 million
· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million
The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.
The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.
The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.
The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.
The total annual operating costs and expenses amount to $1.1 billion.
Specifically, they include:
· Revenue Cost (excluding depreciation): $543.3 million
· Revenue Cost (depreciation): $116.6 million
· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)
· Miner Impairment Loss: $338.3 million
· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million
The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.
The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.
As of December 31, 2025, the company's key assets and liabilities are as follows:
· Cash and Cash Equivalents: $41.2 million
· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million
· Miner Net Value: $248.7 million
· Long-Term Debt (related party): $557.6 million
In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.
As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.

The US AI Startup Is Loving China's Open Source Model

Three Weeks of the US-Iran War: Who's Making Money, Who's Paying the Bill?

Interpreting Polymarket's Major Update Last Night: Fee Expansion, Self-Regulation, and New Incentives

From Human Application to Intelligent Collaboration: How GOAT Network Builds the Next Generation Digital Economy

CZ Washington Dialogue: Crypto Entrepreneurs are Accelerating Their Return to the United States

Morning Report | Strategy increased its holdings by 1,031 bitcoins last week; Katana Blockchain acquires IDEX; NYSE completes rule change to eliminate trading limits on crypto ETF options

WEEX P2P now supports JOD, USD & EUR—Merchant Recruitment Now Open
To make crypto deposits easier, WEEX has officially launched its P2P trading platform and continues to expand fiat support. We're excited to announce that the Jordanian Dinar (JOD), United States Dollar (USD ) and Euro (EUR) are now available on WEEX P2P!

Electric Capital: Tracking 501 types of yield-generating RWA assets, we discovered these patterns

Those who are cut off by AI will not disappear; they will become the creators of the next round of the economy

Stablecoins reshaping cross-border payments in Asia? Strategic panorama and investment opportunity analysis

