The US Senate has postponed consideration of the cryptocurrency market structure bill until next year

The US Senate banking committee is set to hold an amendment hearing on market structure legislation defining how federal regulators will regulate the cryptocurrency industry only next year, after many hoped for a hearing later this week but failed to make it happen. A spokesperson for the committee said in a statement on Monday that "Chairperson Tim Scott and the Senate banking committee have made significant progress with their Democratic colleagues on this bill", but lawmakers are still negotiating. While the delay was expected, it is still a blow for the crypto industry. The industry at least wants to see an amendment hearing, after expectations for a comprehensive new law in 2025 have failed to make more substantial progress. It is unclear how soon lawmakers will be able to restart negotiations in the new year. Returning from the congressional holiday, the priority is funding the US government as a current appropriations bill expires on January 30. Assuming there is no more government shutdown, lawmakers still have limited time to deal with market structure before next year's midterm elections become a top priority.