Senate Crypto Bill Markup Delayed By Snowstorm, But May Still Get Hit With Partisan Vote
The Senate Agriculture Committee delayed its planned vote on a crypto market structure bill by two days due to a snowstorm in Washington, rescheduling it for Thursday. The bill faces significant challenges, notably a lack of Democratic support and the risk of a government shutdown that could further stall progress. The Agriculture Committee, overseeing commodity aspects of the bill, has failed to reach bipartisan agreement, with Democrats currently expected to unanimously oppose the legislation at Thursday’s markup. Passage on a party-line vote could undermine the bill’s prospects, as Democratic support is necessary for approval on the Senate floor. Efforts to achieve bipartisanship were further weakened after the Senate Banking Committee canceled its own markup amid industry lobbying conflicts. With another possible government shutdown looming and November’s election preparation approaching, stakeholders warn that time is running out to pass major crypto legislation this session.
