Former US House financial chair says crypto market structure bill could pass in months

A U.S. crypto market structure bill, known as the CLARITY Act, could pass within months, former House Financial Services Committee Chairman Patrick McHenry said in an interview with CoinDesk. He stated that he believes the final version of the bill could receive a presidential signature by the end of May. McHenry added that U.S. President Donald Trump has made this legislation a personal priority following the passage of the stablecoin regulation act (GENIUS). "DeFi is fundamental to the efficiency and transparency of cryptocurrency and cannot be excluded from the bill," he emphasized. Key points of contention in the legislation include whether to prohibit interest payments on stablecoins, the scope of DeFi inclusion, the classification of cryptocurrencies as commodities or securities, and ethics rules for public officials. The Democratic Party is advocating for stronger regulations, citing consumer harm and ethical issues, while the Republican Party and the White House are discussing a compromise.