politics
Time running out for Senate crypto deal
Key takeaways
- President Trump and GOP lawmakers are eager to secure major policy wins ahead of the midterm elections, and a group of moderate Democrats may join them in an effort to pass long-sought rules for the crypto industry.
- The legislation appears likely to advance out of the committee following a series of recent deals aimed at getting key Senate Republicans on board.
- But a lack of Democratic support, driven in part by concerns about Trump s personal involvement in the industry, could spell trouble for the measure on the Senate floor.
Why this matters: political developments that affect policy direction and public trust.
The Senate Banking Committee is scheduled to vote Thursday on a bill meant to give federal regulators clear guidelines for overseeing crypto companies, a long-standing priority for the industry and its supporters in Washington.
President Trump and GOP lawmakers are eager to secure major policy wins ahead of the midterm elections, and a group of moderate Democrats may join them in an effort to pass long-sought rules for the crypto industry.
The legislation appears likely to advance out of the committee following a series of recent deals aimed at getting key Senate Republicans on board.
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