Senate crypto bill at risk beyond midterms if not passed by August: NYDIG

NYDIG’s Greg Cipolaro says the Senate’s crypto market structure bill is at risk of failing if it cannot clear a floor vote by August.

The US Senate’s crypto market structure bill could take until August to pass and risks not advancing at all if lawmakers cannot pass it before the midterms, said Greg Cipolaro, head of research at financial services firm NYDIG.

Patrick Witt, a senior White House crypto adviser, said earlier this month that he was targeting July 4 for the Senate’s crypto bill to pass, saying there was enough time for a Senate markup, floor vote and House vote. 

“This may represent an aspirational benchmark rather than a fixed legislative deadline,” Cipolaro said in a note on Friday. “The realistic window, however, is June through early August.”

Read more