According to @jchervinsky, the U.S. Senate is actively working on a crypto market structure bill, which he describes as the top legislative priority for the industry this Congress (source: Jake Chervinsky on X, Sep 17, 2025). He adds that a proposed Bitcoin (BTC) strategic reserve is a needless distraction and not a good idea (source: Jake Chervinsky on X, Sep 17, 2025). For traders, this frames the market structure bill as the primary policy track to monitor over reserve proposals when assessing regulatory catalysts for crypto markets (source: Jake Chervinsky on X, Sep 17, 2025).

According to @jchervinsky, World Liberty Financial will make it significantly harder to pass U.S. crypto market structure legislation in the Senate, reducing the likelihood of near-term progress on regulatory clarity for digital assets, source: @jchervinsky on X, Sep 2, 2025. He states that seven Democratic votes are required and that a pro-crypto vote will be politically challenging regardless of the bill’s policy details, source: @jchervinsky on X, Sep 2, 2025. For traders, this signals elevated legislative difficulty that could delay timelines for U.S. crypto market structure reforms closely watched by market participants, source: @jchervinsky on X, Sep 2, 2025.