Wisconsin’s representative Bryan Steil, one of the original cosponors of the House of Representative ‘Crypto Market Structure Bill, the Clarity Act, said the Republican Timeline of Passing the Law Prior to 2026 was still planning, despite the government’s ongoing closure.
In a CNBC’s Wednesday Wednesday interview, Steil Says Republicans’ plan for passing the law to promote what they call regulation clarity for the digital industry is still on the track. Party leaders in the Senate promised to have The Chamber version of the bill signed in the law of 2026, but as the government’s shutdown entered the eighth day, many in the industry expressed concerns.
“I think we still have a chance to get clarity throughout the line by the end of the year,” Steil said, and added: “I hope we come to the other side of the shutdown that we have a chance to hit the land running and the Senate quickly progresses.”
He added:
“If the Senate chooses to use the House text as their base text, I think what we have is an opportunity to still make this bill, signed in law at the end of the year.”
https://www.youtube.com/watch?v=ry9MI57PBJS
Steil’s statements came in the middle of a vote on a scholar that could not be passed to the Senate, likely to expand the shutdown someday. Wednesday has marked the eighth day since lawmakers failed to pass an ongoing resolution to fund the government beyond September 30, limiting operations to federal agencies, flourishing many employees, and affecting air travel for many Americans.
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Even the house Its version of market structure has been passed Through the Clarity Act in July as part of Republican’s “Crypto Week” plans, the bill has experienced delays since being sent to the Senate. Wyoming Senator Cynthia Lummis, a Republican on the banking committee that drives the bill, initially said the committee will vote for the “built” clarity at the end of September.
What can the US government do for crypto during shutdown?
Congress remains in the session, and lawmakers continue to receive their salary, even though house spokesman Mike Johnson is reported to be said Friday that the room will not return until the Senate passes a bill to reopen the government.
In the US Securities and Exchange Commission (SEC), the agency Continue to work with a “super limited number of staff” and “under modified conditions,” as laid out in an August plan.
Analysis of cryptocurrency applications associated with the exchange (ETF) are expected to hold until the shutdown, but the SEC’s electronic filing system will continue to receive submissions.
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