American Crypto Market Structure Bill Enters Critical Period: NYDIG Warns June–August Is the Final Legislative Window

The research director of financial services firm NYDIG, Greg Cipolaro, stated that the most realistic window for the US Senate's crypto market structure bill to pass is from June to early August. If it cannot advance during this period, it may face uncertainty until after the midterm elections or even longer.

Previously, White House crypto advisor Patrick Witt had suggested July 4th as an ideal legislative timeline, but NYDIG believes this goal is more of an "optimistic expectation," requiring multiple hurdles such as committee review, full Senate vote, and House procedures.

The bill aims to clarify the US regulatory framework for crypto assets and is considered one of the most critical pieces of legislation this year. However, it has been repeatedly delayed due to disagreements over stablecoin regulation, ethical clauses, and DeFi rules. The Senate Banking Committee has advanced a draft to the full Senate for a vote, but it still needs at least 60 votes to pass.

Analysts point out that if the bill fails to pass before the election cycle, potential shifts in control of the Senate between Republicans and Democrats could further reduce legislative certainty, leaving the industry in a continued state of "regulatory ambiguity."

However, if the bill ultimately passes and is signed into law, it will bring regulatory clarity to the market. In particular, Bitcoin is expected to be clearly classified as a commodity, thereby reducing uncertainty for institutional entry. (Cointelegraph)