Odaily Planet Daily reports that Greg Cipolaro, Research Director at financial services firm NYDIG, said the most realistic window for the U.S. Senate’s Crypto Market Structure Act to pass is between June and early August; if progress is not made during this period, it may face uncertainty after the midterm elections or even longer.
Previously, White House crypto advisor Patrick Witt suggested July 4 as an ideal timeline for legislation, but NYDIG views this target as more of an optimistic expectation, as it must still pass through committee reviews, full chamber votes, and House procedures.
The bill aims to clarify the U.S. regulatory framework for crypto assets and is considered one of the most critical pieces of legislation this year, but its passage has been delayed multiple times due to disagreements over stablecoin regulation, ethical provisions, and DeFi rules. The Senate Banking Committee has advanced the draft to the full Senate for a vote, but it still requires at least 60 votes to pass.
Analysis indicates that if the bill fails to pass before the election cycle, a shift in Senate control between Republicans and Democrats could further reduce legislative certainty, leaving the industry in a state of continued regulatory ambiguity.
However, once the bill is finally passed and signed into law, it will bring regulatory clarity to the market, particularly by potentially classifying Bitcoin explicitly as a commodity, thereby reducing uncertainty for institutional entry. (Cointelegraph)