US Senate to Vote on Crypto Regulation Bill as Support Remains Uncertain | Ukraine news - #Mezha

A single procedural vote could decide whether Washington advances its biggest crypto rules effort before lawmakers run out of time.

The U.S. Senate is set to vote on Tuesday, September 15, on advancing a sweeping cryptocurrency regulation bill. The outcome of the procedural vote could determine the legislation’s future, as Senate Republican leaders have little time left to consider it during a busy election year.

As reported by Reuters

The bill would establish a regulatory framework for digital assets. Cryptocurrency companies believe this would provide them with clearer legal conditions for operating. The industry, which has significant financial resources, has already spent hundreds of millions of dollars supporting the bill’s advancement.

The bill needs at least 60 votes to move to the next stage. Even after Senate Republicans released an updated version on Sunday containing provisions intended to address concerns from the banking sector and some Democrats, the outcome of the vote remains uncertain. The vote is scheduled to take place shortly after 2 p.m. U.S. Eastern Time, or 6 p.m. Greenwich Mean Time.

Although passage of the bill would be a positive signal for the cryptocurrency market and is broadly supported by the industry, investors and analysts believe the market has already largely priced in a scenario in which the legislation does not take effect in the near future.