In a significant disruption, the Senate Agriculture Committee has once again postponed its highly anticipated markup hearing on the crypto market structure bill. This time, the delay is caused by severe winter weather sweeping across the East Coast, which has disrupted travel plans for many lawmakers and reshaped the Senate’s scheduling priorities.
Second Rescheduling of the Crypto Bill Hearing
Originally scheduled for Tuesday afternoon, the hearing will now take place on Thursday morning at 10:30 a.m. EST. This marks the second postponement of this critical legislation process. Previously, the hearing had been moved from January 15 to January 27 to allow for thorough review and ensure transparency in finalizing the bill draft.
The winter storm has severely impacted transportation across the region, with numerous flight cancellations preventing senators from returning to Washington, D.C., following a break. The Senate leadership adjusted its voting calendar in response, including rescheduling key funding votes to later in the week, thus directly affecting planned committee hearings.
Crypto Bill Focus: Defining SEC & CFTC Roles
The crypto market structure bill aims to delineate regulatory authority between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). With the rising significance of cryptocurrencies in the global financial system, this legislation is a pivotal step toward ensuring clear oversight and protecting investors.
Despite the rescheduling, stakeholders remain keen to see how proposed amendments addressing agency governance and ethics requirements will shape the final draft. Discussions within the Agriculture Committee have been marked by policy disagreements, particularly between Chair John Boozman and Senator Cory Booker. The committee previously stated that releasing the bill’s text ahead of debates is integral to promoting transparency.
Weather Complicates an Already Pressing Timeline
This delay further complicates an already tight timeline for approving other critical measures. Lawmakers are currently racing to pass government funding bills before the looming Friday deadline to avert a federal shutdown. The House of Representatives recently passed its funding package, adding pressure on the Senate to follow suit promptly. The crypto bill hearing must now contend with these competing legislative priorities.
Stay Informed on Crypto Developments
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Bookmark this page for updates on the rescheduled hearing and emerging details on the crypto market structure bill.
