The Senate Banking Committee has canceled its planned markup of crypto market structure legislation. According to reports, Tim Scott, the committee's Republican chairman, advocated for an expedited process. However, the effort faltered due to what sources describe as unfinished business. The cancellation represents a setback for efforts to establish a comprehensive regulatory framework for the cryptocurrency market in the United States. The development highlights the challenges in achieving bipartisan consensus on crypto regulation amid ongoing debates about jurisdictional authority and consumer protection.

The Senate Banking Committee has canceled its planned markup of crypto market structure legislation. According to reports, Tim Scott, the committee's Republican chairman, advocated for an expedited process. However, the effort faltered due to what sources describe as unfinished business. The cancellation represents a setback for efforts to establish a comprehensive regulatory framework for the cryptocurrency market in the United States. The development highlights the challenges in achieving bipartisan consensus on crypto regulation amid ongoing debates about jurisdictional authority and consumer protection.