November 2025: Five U.S. Crypto Legislation Developments

November 2025 saw significant movement toward a unified U.S. regulatory framework for digital assets: the Senate Agriculture Committee released a bipartisan draft designating the CFTC as the primary regulator for spot digital commodities with consumer safeguards and joint SEC–CFTC rulemaking requirements; the Senate Banking Committee signaled accelerated markups addressing SEC jurisdiction and asset classification; Michael Selig advanced in confirmation for CFTC chair; the end of a government shutdown resumed agency work; and mandated harmonization aims to eliminate jurisdictional gaps and provide clearer rules for market participants.