US Senator: Crypto Market Structure Bill Not Expected to Pass Before April

ChainCatcher reports that, according to Cointelegraph, U.S. Senate Majority Leader John Thune stated that the Senate is not expected to advance legislation on the digital asset market structure before April. Thune said the Senate plans to prioritize voting on the “Save America Act,” which requires voters to personally provide U.S. citizen identification for registration. The market structure bill is expected to be advanced after that vote, possibly not until around April, when it can be submitted by the Banking Committee.

This is inconsistent with the earlier expectation from Ohio Senator that Congress would pass legislation in April. The Senate Agriculture Committee has advanced its version of the bill, but the Banking Committee delayed the merger process that was scheduled for January. Last week, President Trump accused banks of “holding hostage” the bill, despite three meetings between White House officials and representatives from the crypto and banking industries. As of Thursday, it remains unclear whether policymakers have reached any agreement.