GOP’s Crypto Bill Faces Delays as Senator Calls for Caution
Senator John Kennedy, a Republican on the Senate Banking Committee, has thrown cold water on hopes for swift passage of a cryptocurrency market structure bill. "I don’t think we’re ready," Kennedy told POLITICO, citing unresolved questions among lawmakers and stakeholders. The remarks clash with Committee Chair Tim Scott's push to advance the legislation by month's end.
The proposed framework builds on the 2022 Responsible Financial Innovation Act by Senators Cynthia Lummis and Kirsten Gillibrand. Despite incorporating feedback from 160 industry participants, the bill now faces headwinds. Scott's office maintains that establishing clear digital asset rules remains urgent, calling the delay "unacceptable" for an industry craving regulatory certainty.
