Crypto Rules: What's Holding Up the Big Vote?
Lawmakers are still figuring out how to regulate cryptocurrency. They wanted to have a big vote on it this year, but it looks like they won't make it in time. Now, they're aiming for early 2026, but there are some big hurdles to overcome.
Key Disagreements
Decentralized Finance (DeFi)
- Some lawmakers want to regulate it.
- Others want to leave it alone.
Stablecoin Yield
- The interest earned from certain cryptocurrencies is a point of contention.
Regulatory Authority
- Who will be in charge of regulating cryptocurrency?
- Will President Trump agree to any ethics agreements?
Delayed Hearing
The Senate Banking Committee had hoped to have a hearing by the end of last week, but they didn't make it happen. Chairman Tim Scott said they're still working on it and will try again in 2026. However, with the government shutdown and other issues, it's going to be tough to get everything sorted out in time.
Mixed Opinions
- Some think it's better that they didn't have the hearing this year, as it might have been too partisan and not gotten enough support.
- Others believe that if they don't act soon, the bill might not pass at all.
The Road Ahead
There's still a chance that the bill could pass in 2026, but it's going to be a tough road. Congress has a lot on its plate, and they'll need to work quickly to get it done. With the election coming up, it's anyone's guess what will happen.
