Paradigm executive warns: It may take years for the U.S. crypto market structural regulations to be fully implemented

January 14 News, the progress of cryptocurrency regulation in the United States has once again sparked industry discussions. Justin Slaughter, Vice President of Regulatory Affairs at Paradigm, stated that even if the Cryptocurrency Market Structure Act is ultimately passed, its actual implementation could still take several years, and the rulemaking process may span more than one presidential term.

Overall, the Cryptocurrency Market Structure Act is currently in the Senate committee stage, with the text being drafted jointly by both parties, but negotiations are still ongoing. According to the latest schedule, the bill will be submitted to the Senate Banking Committee for discussion this week, while the Senate Agriculture Committee has postponed its original hearing to January 27, indicating ongoing uncertainties in the legislative process.

Justin Slaughter pointed out on social platform X that even if the House and Senate pass the bill smoothly and it is signed into law by President Trump, the subsequent rulemaking process will still be lengthy. He emphasized that the bill itself involves about 45 specific rules, which need to be promoted separately by different regulatory agencies, and the implementation cycle could extend beyond the next presidential term.

From an institutional perspective, rulemaking typically includes drafting proposed rules, soliciting public comments, and issuing final legally binding regulations, a process that often takes a considerable amount of time. Slaughter cited the Dodd-Frank Act as an example, noting that after its passage in 2010, the accompanying rules were gradually completed over the next 3 to 8 years, with some content still being adjusted today. This provides a practical reference for current cryptocurrency regulation legislation.

The crypto industry has long called for the United States to establish a clear and unified cryptocurrency regulatory framework, but there remains a significant time gap between legislation and enforcement. Slaughter believes that before the rules are officially launched, the bill itself may undergo multiple setbacks and delays. He stated that he will closely monitor whether subsequent discussions in the Senate can form genuine bipartisan consensus.

Even though 2026 is seen as a key milestone for US crypto regulation, the full implementation of market structure rules is more likely to be a medium- to long-term process. For crypto companies, institutional investors, and ordinary users, the gradual clarification of the compliance environment may be accompanied by a policy transition period lasting several years.