Senate Halts Crypto Market Structure Bill Markup Amid Industry Splits
Senate Halts Crypto Market Structure Bill Markup Amid Industry Splits
The Senate Banking Committee has postponed the scheduled markup of its crypto asset market structure bill. This delay follows late-stage disagreements with industry participants, including Coinbase, casting further uncertainty on the path to clear crypto regulation in the U.S. The decision highlights ongoing divisions within the industry regarding the proposed Senate draft.
Regulatory Roadblock: Senate Delays Crypto Bill Markup
The eagerly anticipated markup of the crypto asset market structure bill by the Senate Banking Committee, which was set for Thursday, has been unexpectedly cancelled. This significant pause stems from a late-stage 'flare-up' involving key industry players, notably Coinbase, effectively freezing what had previously appeared to be a progressing path toward legislative action.
This setback arrives at a particularly sensitive juncture for Washington's ongoing crypto negotiations. There are visible public divisions among industry heavyweights concerning the specifics and implications of the current Senate draft. The inability to move forward with the markup underscores the complex challenges and deep-seated disagreements that continue to impede the establishment of comprehensive regulatory frameworks for the digital asset market.