Despite the increased momentum for crypto legislation, passing market structure legislation is proving challenging, and the process seems likely to stretch into 2026.
Legislation under consideration in the Senate would impose new limits on the export of AI semiconductors and has created concern among leading AI chip makers.
The passage of the GENIUS Act was the crypto industry's most significant victory at the federal level yet, but the work for the sector is just starting in some ways.
New export controls on semiconductors are not imminent from the Trump administration, but future measures are being discussed, including targeting chip smuggling.
Congress has achieved a significant win in cryptocurrency policy, but its next task —passing market structure legislation — may prove more challenging.
Congress appears set to continue making progress on crypto legislation, with the Senate expected to pass a bill to regulate stablecoins in the coming weeks.
The Trump administration faces a looming deadline for one of its most consequential export control decisions, with the AI Diffusion Rule set to take effect on May 15.
President Donald Trump's threat of tariffs on semiconductors seems serious and may hurt Taiwan, but an emerging deal between TSMC and Intel could open a path for relief.