Republican Senator Signals Delay in Comprehensive Crypto Bill Passage

Senator John Kennedy (R-LA) expressed doubts about the timeline for a comprehensive crypto bill, indicating internal Republican disagreements.
Senate Banking Committee Chair Tim Scott (R-SC) aims to advance the measure this month, but faces opposition from both parties.
Kennedy described the market structure bill as a significant leap compared to past legislation like the stablecoin bill.
Some Democrats, including Senator Andy Kim (D-NJ), also oppose the fast-tracked vote, suggesting it's premature.

Proposed Crypto Legislation Overview

The bill seeks to divide digital asset oversight between the SEC and CFTC, offering regulatory clarity.
Industry experts note uncertainty about proper regulation methods, with some institutions unprepared for rapid changes.
Lack of unified Republican support and bipartisan concerns make meeting the Sept. 30 deadline improbable.

This situation raises concerns among investors and firms regarding US crypto regulation.