Senator John Kennedy Says GOP Not Ready To Advance Crypto Bill

Senator John Kennedy (R-LA) has declared the Senate unprepared for sweeping cryptocurrency market regulations, citing unresolved questions among lawmakers. His remarks come as Senate Banking Committee Chair Tim Scott (R-SC) pushes for a September 30 markup deadline, despite bipartisan resistance.

Policy experts warn against rushing comprehensive legislation, arguing that institutional readiness and regulatory clarity remain lacking. The GENIUS Act's recent passage on stablecoin rules was merely a "baby step," Kennedy noted, emphasizing the complexity of broader market structure reforms.

The legislative impasse reflects deepening uncertainty in Washington as digital asset regulation becomes increasingly politicized. Market participants await clearer signals from Capitol Hill, with the House-passed CLARITY Act hanging in the balance.