Crypto Bill Delayed Several Months as Senate Pivots to Trump’s Housing Initiatives
The Senate's comprehensive crypto market structure bill is delayed for months as lawmakers pivot to housing initiatives following industry backlash.Summary
The U.S. Senate's anticipated comprehensive bill for cryptocurrency trading and oversight has been indefinitely postponed for several weeks or months. This delay follows major industry backlash, specifically after Coinbase publicly withdrew its support for the market structure bill just before a crucial markup hearing. The Senate Banking Committee has now shifted its immediate focus to housing affordability initiatives linked to President Donald Trump’s agenda. Key industry concerns contributing to the slowdown include provisions that could weaken the Commodity Futures Trading Commission's authority, restrict DeFi, and curtail stablecoin rewards. Furthermore, lobbying from the traditional banking sector pushing for tighter restrictions on yield-bearing crypto products has intensified industry opposition. While some lawmakers remain optimistic about achieving regulatory clarity, the interruption highlights the fragile nature of consensus on digital assets, with one official warning that future iterations might be less favorable without industry cooperation.
(Source：Bitcoin Magazine)