The Republican senator said that there is a small amount of time for the passage of the crypto bill
North Carolina Senator Thom Tillis, a Republican member of the US Senate’s banking committee, has reportedly warned that Congress has only a few months left to advance crypto legislation before the development of the election’s political stall.
According to a Monday Bloomberg report, Tillis said The 2026 midterm elections will likely prevent progress on any crypto bills currently moving through Congress, such as the market structure framework passed by the House of Representatives in July, which is currently being considered in the Senate.
Tillis said lawmakers must act “in early January, February” to get any legislation passed in the current session, which ends in January 2027.
“I’m not optimistic about us moving more on anything around digital assets, stablecoins, or crypto in this Congress,” Tillis said, according to Bloomberg.
Tillis’ remarks came amid a US government shutdown, which began on October 1 after lawmakers failed to reach an agreement on a funding bill over Democratic concerns over cuts to health care and subsidies.
Although the Senate remains in session, House Speaker Mike Johnson has continued to delay business in the chamber since before the shutdown began.
Related: Congressman Steil: US Market Structure Bill on Track, Despite Shutdown
Among the crypto-related bills stalled by the shutdown was the Clarity Act, which the House passed in July, which Senate leaders said they would “develop” to pass market structure legislation.
Senator Cynthia Lummis, a Republican leader on the Senate Banking Committee, said before the shutdown began That the House version of the bill, titled the Responsible Financial Innovation Act, would become law in 2026.
Prospective CFTC Chair seeking Senate confirmation
On Saturday, Securities and Exchange Commission official Michael Selig said President Donald Trump has he was appointed to the Chair The Commodity Futures Trading Commission (CFTC), one of the main financial regulators that affects how crypto companies operate in the country.
His confirmation hearing did not appear on the Senate calendar as of Monday.
https://www.youtube.com/watch?v=ry9mi57pbjs
Magazine: Review: The Devil Takes Bitcoin, a wild history of Mt. Gox and Silk Road
