US Crypto Legislation on Brink of Collapse Due to Senate Delays

The future of US crypto regulation hangs in the balance as Senate delays threaten to stall progress on a comprehensive bill.

Industry leaders, including Ripple's CEO Brad Garlinghouse, have warned that time is running out for lawmakers to advance a bill that would establish clear rules for the industry and define how digital assets are regulated. With midterm elections looming, political priorities are shifting quickly, making it increasingly difficult to pass legislation.

Garlinghouse emphasized the importance of holding a markup session by the Senate Banking Committee in the next two weeks, stating that failure to do so would sharply reduce the chances of passing a bill. He also highlighted the need for stability and clarity, arguing that regulatory guidance alone cannot provide lasting standards for the industry.