The US Senate Cryptocurrency Regulation Bill Hits Key Milestone, Will Hold Markup Hearing on January 15

BlockBeats News, January 7th, a comprehensive bill aimed at regulating the cryptocurrency industry in its entirety is set to make progress in the new year at the Senate Banking Committee, despite the uncertain outlook but still with a glimmer of optimism.

According to sources familiar with the matter, Democratic and Republican members met on Tuesday to discuss the bill, with Senate Banking Committee Chairman and South Carolina Republican Tim Scott "pushing hard" to hold a hearing this month to amend and vote on the bill. Punchbowl News reported on Tuesday that Scott informed lawmakers and staff that he will hold a "cryptocurrency market structure bill revision meeting by January 15th, regardless of whether the bill receives bipartisan support." Scott later confirmed in an interview with Breitbart News that his committee will hold a revision meeting on January 15th.

In the Breitbart News interview, Scott said, "I believe we have to have a mark-up and a vote, so we will be voting on the market structure bill next Thursday. There have been relentless efforts over the past six-plus months to make sure each member of the committee has had multiple versions of the draft." However, sources indicated that as of Tuesday, the bill may still lack sufficient support from either party.