The Senate committee aims to finalize the draft market structure legislation before its deliberations in December

According to Crypto In America, U.S. Senate staff are racing against the clock to complete the draft market structure legislation before Thanksgiving. At present, it appears that the goal of the Senate Agriculture Committee and the Senate Banking Committee is to have the relevant bills ready for consideration in early December.
The chairperson of the agriculture committee, John Boozman (R-Arkansas), said he was committed to meeting that timeline, noting that the government shutdown delayed his plan to consider the bill this week. The chairperson of the House banking committee, Tim Scott (R-S.C.), had planned to complete consideration of the banking bill by the end of September, but he has not yet decided when his committee's portion of the bill will be put to a vote. The draft text has also not been released since it became the result of a bipartisan round table on Capitol Hill last month, and it is unclear whether it will be released before the Thanksgiving holiday.
The draft leaves several key gaps, including how to regulate decentralized finance (DeFi), and some wording in brackets has not yet been approved by lawmakers. If the committees can complete their respective deliberations next month, the two bill texts will be merged into a single piece of legislation and sent to the full Senate for a vote.
However, with the holidays and the end of the year approaching, many expect the voting process and the final passage of the market structure bill to be delayed until next year's session, with the focus in the second half of next year largely on the midterm elections.