House Democrats draft crypto bill granting SEC expanded oversight
CIE News ·
Based on reporting by BeInCrypto; not yet independently confirmed.
Congressional Democratic leadership launched staff briefings on November 4, 2026, for a draft market structure bill expanding SEC authority over crypto exchanges and tightening operational rules.
Congressional Democratic leadership initiated staff briefings on November 4, 2026, for a new market structure bill that expands the SEC's regulatory reach over crypto exchanges. The draft legislation broadens the 2025 Crypto Investor and Consumer Bill of Rights by granting the SEC primary supervisory authority over digital asset platforms while diminishing the role of the CFTC.
Under the proposed measures, crypto exchanges would be required to maintain 24/7 customer service, execute user withdrawals within 24 hours, and submit auditor-verified proof-of-reserves reports. The draft also introduces ethics restrictions limiting crypto business involvement by federal officials, specifically citing approximately $1.2 billion in 2025 crypto earnings by Donald Trump.
According to TradingKey, political developments followed the conclusion of U.S. midterm election counting on November 4, 2026, as Bitcoin (BTC) rebounded above $80,000 amid $975 million in contract liquidations. The publication reported that while Democratic control prompted regulatory concerns, state-level strategic Bitcoin reserve initiatives helped mitigate market anxiety.
Key facts
- Draft bill briefed Nov 4, 2026
- Expands SEC supervisory power
- Mandates 24/7 customer support
- 24-hour withdrawal requirement
Read the original at BeInCrypto