Insider: Crypto Market Structure Bill May Advance in Mid-May

On May 1, sources revealed that the crypto market structure bill may advance in mid-May. Key figure in the cryptocurrency bill negotiations, Republican Senator Thom Tillis of North Carolina, stated on Wednesday that he has requested Senate Banking Committee Chairman, Republican Senator Tim Scott of South Carolina, to ‘expedite arrangements’ for a hearing to revise and vote on the bill. Additionally, another negotiator, Angela Alsobrooks, mentioned this week that if lawmakers wish to achieve bipartisan support in the Senate Banking Committee, they need to address issues related to illicit financing and ethics. However, Senate Chairman Scott indicated that he believes the ethics provision does not need to be reviewed by his committee. It remains unclear where the provision will be submitted next, whether it should be reviewed by other committees, but it will likely require discussion before being presented for a full Senate vote.

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