Winter Storms Delay Senate Crypto Bill as Policy Disputes Threaten Passage
A winter storm forced the Senate Agriculture Committee to postpone hearings on a bipartisan cryptocurrency market-structure bill, delaying joint SEC-CFTC meetings and pushing deliberations to Thursday. Bitcoin traded below $88,000 as investors showed renewed interest in commodities like gold and silver. The Committee remains in the markup phase, debating provisions that would clarify CFTC oversight of crypto markets. Political contention is the larger obstacle: disagreements between Republican Chair John Boozman and Democratic Senator Cory Booker over core policy elements have blocked agreement on final text. Democrats proposed multiple revisions, including mandatory ethics disclosures for senior officials amid concerns about former President Trump’s crypto holdings and perceived gains. Coinbase and other stakeholders have also raised objections. Timing is uncertain — extensions last year suggested the law might miss the midterm recess, and Democratic demands could push passage until after the elections, complicating prospects for swift presidential approval.
Neutral
The immediate market effect is neutral. The storm-caused delay is a short-term scheduling issue unlikely to move markets materially by itself. However, the substantive content — stalled bipartisan agreement and added Democratic demands (notably ethics disclosures tied to political sensitivities) — increases legislative uncertainty. Historical precedent shows that clear, favorable regulation tends to be bullish for crypto, while prolonged uncertainty or restrictive rules can be bearish. Because the article describes delays and political disagreement rather than concrete restrictive measures or approvals, the net near-term impact is neutral: traders may see increased volatility around headlines but no decisive directional catalyst. Longer term, if disagreements force the bill to be watered down or delayed past the midterms, regulatory uncertainty could weigh on institutional flows and adoption (bearish). Conversely, if negotiations eventually produce clear, pro-market rules, that would be bullish. Traders should watch committee markups, any revised bill text, and statements from key players (Boozman, Booker, SEC, CFTC, major exchanges) for directional cues.