Can US Lawmakers Pass Crypto Market Structure Before the Midterms?

US lawmakers have been working on a comprehensive digital asset market structure bill since July, but progress is reportedly stalled due to government gridlock, partisan divides, and the approaching November midterm elections. While a bill focused on commodities regulations has passed the Senate Agriculture Committee, the Senate Banking Committee has yet to address the securities laws component. Rebecca Liao, CEO of Saga, suggested the legislation is effectively "on hold," noting that the previous urgency driven by thriving crypto markets has diminished. She emphasized the difficulty of passing legislation on an obscure topic during an election year. Further complicating matters is the ongoing debate in the Senate regarding stablecoin yield provisions, which has involved White House discussions. Despite some optimism from industry figures like Coinbase CEO Brian Armstrong regarding movement, specific timelines beyond Senator Moreno's optimistic April goal remain unclear, especially given scheduled August recess before the election.

(Source：Cointelegraph)