Democrats Eye Crypto Custody Safeguards and SEC Oversight

TLDR House Democrats are discussing a broader crypto market structure bill for the next Congress. The reported proposal could expand SEC authority while limiting the CFTC’s oversight role. The discussions build on Maxine Waters’ rejected 2025 Crypto Investor and Consumer Bill of Rights. Waters’ earlier amendment proposed 24-hour withdrawals and monthly auditor-attested proof of reserves. The House Rules Committee blocked consideration of Waters’ amendment in a 4–8 procedural vote. House Democrats are discussing a crypto market structure bill that could revive custody safeguards. The proposal could also expand Securities and Exchange Commission (SEC) oversight. Crypto In America reported this November 5, citing four industry sources who spoke with Democratic staff. The proposal would build on Representative Maxine Waters ’ rejected investor protection amendment.

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