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Insider: Crypto Market Structure Bill May Advance in Mid-May
On May 1, The Block reported, citing insiders, that the crypto market structure bill may advance in mid-May. Key figure in the cryptocurrency bill negotiations, North Carolina Republican Senator Thom Tillis, stated on Wednesday that he has requested Senate Banking Committee Chairman, South Carolina Republican Senator Tim Scott, to ‘expedite arrangements’ for a hearing to revise and vote on the bill. Additionally, another negotiator, Angela Alsobrooks, indicated this week that if lawmakers wish to achieve bipartisan support in the Senate Banking Committee, issues related to illicit financing and ethical concerns need to be addressed. However, Senate Chairman Scott expressed that he believes the ethical standards provision does not require review by his committee. It remains unclear where this provision will be submitted next or whether it should be reviewed by other committees, but it is likely that discussions will be necessary before it is presented for a vote by the full Senate.