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WLFI could make market structure bill, CLARITY Act harder to pass the Senate due to close ties with the President.
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Experts say Trump-related crypto company will create conflicts of interest and many will oppose the bill.
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The bill is scheduled to complete by Sepetmber 30 but can extend.
The Trump family’s crypto company, World Liberty Financial, recently started trading under the symbol $WLFI. Experts are concerned that the company’s close ties to the president and its active role in crypto could make it harder for the Senate to pass the market structure bill.
Will World Liberty Complicate the Market Structure Bill?
The market structure legislation, specifically the CLARITY Act, was created to establish a regulatory framework for cryptocurrencies, including stablecoins such as those issued by World Liberty Financial.
Jake Chervinsky, a lawyer and crypto expert, recently raised concerns regarding this. He indicated that the Trump-related crypto company will create conflicts of interest, with many unwilling to support legislation tied to the President’s personal financial interests.
The World Liberty may add potential political risk to crypto market structure reform, which will reduce the chances of securing the seven Democratic votes needed for Senate passage.
Chervinsky wrote, “World Liberty Financial will make it way harder to get market structure legislation done in the Senate, where we need 7 Democrats to vote yes.”
How Does World Liberty Affect Market Structure Bill?
Previously, many democrats called out Trump’s active participation in the crypto space. They even called for amendments to block Trump and his family from financially benefiting from crypto activities.
Congresswoman Maxine Waters even called Trump “corrupt” for benefiting from crypto ventures. She led a strong opposition against the bill to cease Trump’s corrupt crypto-related activities.
So, the increasing link between the president’s business interests has led many to believe market structure legislation has almost zero chance of passing in 2025
Will The Market Structure Bill Pass?
Senator Cynthia Lummis, one of the Republicans, revealed at the Wyoming Blockchain Symposium that the market structure bill will pass the Senate Banking Committee by the end of September. She said, “We will have the market structure to the president’s desk before the end of the year…I hope it’s before Thanksgiving.”
Senate Banking Chairman Tim Scott also stated that he hopes to have market structure legislation completed by September 30, 2025. According to reports, if the bill is not passed by September, then it will be pushed to October 6 for a hearing.