NYDIG: If the Senate's Cryptocurrency Market Structure Bill is not passed before August, it may completely fail after the midterm elections

ME News Report, May 18 (UTC+8), NYDIG Research Director Greg Cipolaro stated that if the U.S. Senate’s Crypto Market Structure Act cannot pass before August, it may fail completely after the midterm elections. Cipolaro pointed out that the Senate Banking Committee approved the bill along party lines last week, but it requires 60 votes to pass in the Senate. Congress will be in recess from late July to early September, then enter the period before the midterm elections, and Senate leadership is unlikely to schedule a contentious 60-vote vote. If this window is missed, the most likely path is a lame-duck session after the elections. If the Democrats take control of the Senate after the midterms, the current Republican-supported bill is unlikely to advance in the new Congress starting in January next year. Cipolaro said lawmakers face a choice: either accept an imperfect bipartisan framework or face a very different legislative environment after the midterm elections. The White House crypto advisor previously aimed to pass the bill by July 4, but Cipolaro believes a more realistic window is from June to early August. (Source: ChainCatcher)