The White House is accelerating the advancement of the Cryptocurrency Market Structure Act, possibly related to the midterm election time frame.

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ME News message: On April 16 (UTC+8), as the U.S. midterm elections draw near, the White House is accelerating efforts to push the Crypto Market Structure Bill to ease long-standing disputes between the banking industry and the crypto industry. Reports say that, including U.S. Treasury Secretary Scott Bessent, the White House crypto advisor Patrick Witte, and related policymakers, multiple parties have recently publicly called for advancing the bill. The U.S. Council of Economic Advisers has also released a report in response to the banking industry’s concerns about the crypto sector. Analysts say that, in terms of timing, this may be a key window for promoting the relevant legislation, but whether the bill can pass smoothly remains uncertain. (Source: ODAILY)

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