The outlook for landmark cryptocurrency legislation is growing increasingly bleak, following Senate Majority Leader John Thune's move to punt the initial vote to next month.
Early Saturday morning, Thune filed for a cloture vote scheduled for Sept. 15, when the Senate is back from its month-long recess.
Some in the crypto industry were disappointed by the delay, as there had been an expectation that the Senate could at least hold an initial vote before lawmakers returned to their respective states, said Talia Davis, vice president of government relations at the DeFi Education Fund. That leaves just a few weeks next month to have the procedural vote, a vote to potentially pass the bill in the Senate before sending it to the House.
That leaves lawmakers with only a few weeks in September to clear the procedural hurdle and potentially pass the bill in the Senate before sending it to the House.
"At least there is acknowledgement that this will happen, or at least some hope that it will happen in September. I think some people in the industry are still very skeptical if that will actually follow through," Davis told The Block, adding that the bill is still a priority for the Senate.
