Senator Mark Warner recently spoke at MoonPay’s New York office about the current status of the Cryptocurrency Market Structure Bill, stressing that it will be very difficult to pass it before the Christmas holidays.
The main reason is that key language is still missing from the White House on two key parts of the bill: ethics provisions and quorum requirements.
Warner explained that there is widespread tension over who is pushing the bill.
At some point, Republicans will need to clarify whether they see this as a White House-led effort or a Congressional decision.
He also emphasized that both his team and Republican staff are engaged in intensive discussions every day, spending hours negotiating the details.
He said he was confident that the bill would eventually be completed, but stressed that careful deliberations were needed to ensure it was structured correctly.
further obstacles
At the same time, some lawmakers are pushing for national security to be included in the bill. For example, Elizabeth Warren and Jack Reed recently pressed the Department of Justice and the U.S. Treasury Department to scrutinize crypto ventures. They specifically expressed concern about the potential sale of tokens to entities associated with illegal actors.
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