U.S. Senate delays crypto bill review until the end of January, bipartisan agreement becomes key

Senate Agriculture Committee Chairman John Boozman announced that the originally scheduled review of the crypto market structure bill this week will be postponed to the last week of January. This delay reflects the complex bipartisan negotiations over crypto policy and indicates that the development process of the US crypto regulatory framework will require more consultation and compromise than previously expected.

Review Schedule Adjustment

According to the latest news, the Agriculture Committee initially planned to hold a bill review simultaneously with the Senate Banking Committee on Thursday, but it has now been confirmed to be postponed to the last week of January (expected January 27-31). This time frame provides the committee with more preparation time.

Bipartisan Support as the Main Reason for Delay

Boozman explicitly stated that the main reason for the delay is the need for more time to maintain bipartisan support. This statement carries several implications:

The necessity of political negotiations

Cryptocurrency regulation involves multiple stakeholders, including traditional financial institutions, tech industry players, and consumer protection advocates. Members of both parties have differing views on balancing innovation and risk prevention, requiring revisions and negotiations to reach consensus.

Sensitivity of the bill content

The US Senate Agriculture Committee oversees the Commodity Futures Trading Commission (CFTC), and the crypto market structure bill involves expanding CFTC’s regulatory authority over crypto derivatives. Such power distribution issues often require coordination among multiple parties.

Possible Market Reactions

This delay is generally viewed as a positive signal by the market, indicating that the bill is likely to advance with broader bipartisan support rather than rushing through a version that could trigger controversy. Additionally, the postponement gives relevant industries more time for lobbying and feedback.

Key Follow-up Observations

The review in the last week of January will be a critical milestone. If the review proceeds smoothly, the bill could enter broader Senate procedures in February. If further revisions are needed at this stage, the schedule may be delayed further.

Summary

This postponement reflects the complexity of the US legislative process. While the delay may create some uncertainty among market participants, from a policy stability perspective, bills supported by bipartisan consensus after thorough negotiation tend to be more implementable and sustainable. The outcome of the review at the end of January will directly influence the pace and final form of the US crypto regulatory framework.