Market Structure Legislation
A workable framework, years in the making, that protects developers, preserves consumer choice, and keeps America at the forefront of digital asset innovation.
A Framework Built for the Next Era of American Innovation
Market structure legislation can protect software developers from criminal and regulatory overreach, while also maintaining regulators' flexibility to accommodate novel financial markets, and preserving consumer choice.
Why this Matters for Everyone
Global finance is running on decades-old technology. We need market structure legislation so we can build next-generation financial rails here in the US.
Legal clarity to build responsibly in the United States
Software developers are the engine of the Solana ecosystem and the architects of modern economic systems. They shape how money moves, how markets function, and how people do business at global scale.
Solana is the leading ecosystem for new developers. The next century will be written in code, and strong market structure legislation will ensure it can be written here in the United States.
For Consumers
Americans should have a choice in how they hold and use their digital assets.Americans should have a choice in how they hold and use stablecoins. Market structure legislation should reflect that, keeping consumer protections strong while preserving the optionality that makes onchain finance worth using in the first place.
Investor protections should remain front and center. Regulators can retain authority to monitor bad actors while leaving room for legitimate financial innovation to reach the people who stand to benefit most.
Rules that fit the technology, not the other way around
The rules built around legacy markets assume there is always a broker, a custodial exchange, or some other intermediary controlling who gets in, how orders are handled, and how records are kept. Blockchain systems are different.
This legislation gives institutions, including more traditional intermediaries, the rules of the road when it comes to incorporating digital rails into their product offerings.
Now is the Moment to Lead
The CLARITY Act, under consideration in the Senate, is the product of years of serious, bipartisan effort in both houses of Congress. Industry participants have matched that commitment, offering technical input, advancing balanced compromises, and working constructively with policymakers throughout the process. Solana Policy Institute is grateful for the sustained work to bring this so close to the finish line.
The House passed market structure legislation with bipartisan support in 2025. SPI is committed to supporting the work ahead and urge the Senate to see this through to a floor vote. The Senate has the opportunity, and the obligation, to match that moment.