According to Jake Chervinsky, the prospects for significant crypto market structure reform in Congress are narrowing, with the current legislative session seen as a critical window. Chervinsky notes that if reforms are not passed before the 2025 midterms and a potential Trump administration, regulatory clarity may be delayed or lost entirely, especially if Democrats regain control of the House. He emphasizes that in the absence of congressional action, regulatory agencies will remain the main arena for crypto market oversight, which could affect trading environments and compliance requirements for exchanges and investors (source: @jchervinsky, Twitter, May 27, 2025).