NYDIG: If the Senate's cryptocurrency market structure bill is not passed before August, it may completely fail after the midterm elections
According to Cointelegraph, NYDIG research director Greg Cipolaro stated that if the U.S. Senate's cryptocurrency market structure bill does not pass before August, it may completely fail after the midterm elections. Cipolaro pointed out that the Senate Banking Committee passed the bill along party lines last week, but it needs 60 votes to pass in the Senate. Congress will be in recess from late July to early September, and then enter the pre-midterm election period, making it unlikely that Senate leadership will schedule a controversial 60-vote vote.
If this window is missed, the most likely path is a post-election lame-duck session. If the Democrats control the Senate after the midterm elections, the current Republican-supported bill is unlikely to advance in the new Congress in January. Cipolaro stated that lawmakers face a choice: either accept an imperfect bipartisan framework or confront a drastically different legislative environment after the midterm elections. The White House's cryptocurrency advisors previously aimed to pass the bill by July 4, but Cipolaro believes a more realistic window is from June to early August.
You may also like
Mozilla Employs Anthropic AI to Detect 271 Firefox Vulnerabilities
Key Takeaways: Mozilla’s internal test with Anthropic’s Claude Mythos AI found 271 vulnerabilities in Firefox, all patched this…
BlackRock Injects $900 Million into Bitcoin amid Soaring ETF Demand
Key Takeaways: BlackRock invested over $900 million in Bitcoin within five days, according to Arkham Intelligence. The firm…
Uzbekistan Launches State-Endorsed Crypto Mining Zone with Tax Perks
Key Takeaways: Uzbekistan has initiated a regulated crypto mining zone in Karakalpakstan, effective April 20. Companies gain tax…
Kelp DAO Exploit Fallout Deepens as Attacker Routes $175M in ETH via Privacy Rails
Key Takeaways: The attacker moved $175 million in stolen ETH to new wallets using privacy tools. The exploit…
UK Fintech Stratiphy Reopens Tax-Free Crypto ETNs Through IF ISAs
Key Takeaways: Stratiphy now offers UK investors tax-free crypto ETNs via Innovative Finance (IF) ISAs. Recent policies restrict…
Charles Hoskinson Criticizes Bitcoin’s Approach to Post-Quantum Security
Key Takeaways: Bitcoin’s selection of SPHINCS+ for post-quantum security faces scrutiny from Charles Hoskinson. SPHINCS+, while secure, increases…
Does XRP Have a Chance? Unhealthy Bitcoin Price Pattern and Hyperliquid’s Potential Transition
Key Takeaways: XRP is stabilizing but remains unpredictable, moving between $1.38 and the $1.40s. Bitcoin shows signs of…
Brian Armstrong Endorses Groundbreaking Satoshi Documentary
Key Takeaways: Brian Armstrong praises the latest documentary on Satoshi as the most insightful yet. The film results…
Meta Rolls Out Employee Monitoring for AI Development
Key Takeaways: Meta has initiated employee monitoring to enhance AI models. A focus on AI-driven operations supports the…
Bitcoin’s Quantum Resistance Faces Criticism from Charles Hoskinson
Key Takeaways: Bitcoin implements the SPHINCS+ signature scheme for quantum resistance. Charles Hoskinson criticizes SPHINCS+ as an inflexible…
Breaking: Crypto Investor Tim Cook Steps Down as Apple CEO
Key Takeaways: Tim Cook will transition from CEO to Executive Chairman on September 1, 2026. John Ternus, a…
Banger Insight on XRP’s Quantum-Ready Ambitions by 2028
Key Takeaways: By 2028, XRP Ledger aims for full quantum readiness, safeguarding its operations against quantum computing threats.…
Analyst Predicts Future Wealth for XRP Holders Post-Retracement Confirmation
Key Takeaways: Crypto analyst JD remains bullish on XRP’s macro chart structure despite recent market retracement. Confirmation of…
Schwartz Draws Parallels Between Arbitrum’s Crisis and Bitcoin’s 2010 Bug
Key Takeaways: Arbitrum Security Council froze 30,766 ETH after the KelpDAO exploit. This move revived fears over centralization…
56% Surge in Memecoin Trading Volume Leaves Shiba Inu (SHIB) Static with Zero Netflow
Key Takeaways: Memecoin trading volume has soared by 56.14%, reaching approximately $3.79 billion. Despite a market rally, Shiba…
Ripple to Handle Settlements with XRP; SWIFT Continues Messaging Role
Key Takeaways: Ripple focuses on settlement via XRP, while SWIFT handles messaging. The integration of blockchain doesn’t require…
Ripple to Handle Settlements with XRP, SWIFT to Focus on Messaging
Key Takeaways: Ripple aims to manage settlements using XRP, while SWIFT continues to control global messaging. SWIFT’s one-directional…
Hormuz Bitcoin, USDT Tolls Hit by Crypto Scam as Hackers Imitate Iran System
Key Takeaways: Scammers have targeted the Strait of Hormuz by imitating Iran’s toll system, demanding cryptocurrency payments. Over…
Mozilla Employs Anthropic AI to Detect 271 Firefox Vulnerabilities
Key Takeaways: Mozilla’s internal test with Anthropic’s Claude Mythos AI found 271 vulnerabilities in Firefox, all patched this…
BlackRock Injects $900 Million into Bitcoin amid Soaring ETF Demand
Key Takeaways: BlackRock invested over $900 million in Bitcoin within five days, according to Arkham Intelligence. The firm…
Uzbekistan Launches State-Endorsed Crypto Mining Zone with Tax Perks
Key Takeaways: Uzbekistan has initiated a regulated crypto mining zone in Karakalpakstan, effective April 20. Companies gain tax…
Kelp DAO Exploit Fallout Deepens as Attacker Routes $175M in ETH via Privacy Rails
Key Takeaways: The attacker moved $175 million in stolen ETH to new wallets using privacy tools. The exploit…
UK Fintech Stratiphy Reopens Tax-Free Crypto ETNs Through IF ISAs
Key Takeaways: Stratiphy now offers UK investors tax-free crypto ETNs via Innovative Finance (IF) ISAs. Recent policies restrict…
Charles Hoskinson Criticizes Bitcoin’s Approach to Post-Quantum Security
Key Takeaways: Bitcoin’s selection of SPHINCS+ for post-quantum security faces scrutiny from Charles Hoskinson. SPHINCS+, while secure, increases…
