A landmark bill to regulate the US crypto market faces a likely delay of multiple weeks. The Senate Banking Committee is temporarily shifting its focus to implement President Donald Trump’s affordability agenda, according to people familiar with the matter.
The committee’s new priority follows a recent executive order from Trump. That order bars large investment firms from purchasing single-family homes.
This action is part of a broader push to reduce economic pressures on voters before the US holds its midterm elections in November.
To address this, the Banking Committee will likely hold off on advancing the crypto bill. A probable timeline for the legislation now points to late February or March.
If delayed, it would mark the latest in a series of setbacks for the bill in the Senate. Both the Banking and Agriculture Committees have rescheduled markups in the past to seek wider support.
The bill’s purpose is to assign clear regulatory roles to the Securities and Exchange Commission and the Commodity Futures Trading Commission over crypto assets. The effort suffered a blow when exchange giant Coinbase withdrew its support over disputes concerning stablecoin and decentralized finance provisions.
