the crypto industry desperately wants this bill. more than 100 signed an open letter last week urging a markup hearing in the Senate Banking Committee . the drop-dead date is memorial day (may 25). after that lawmakers leave town to run campaigns and nothing gets done .
this was supposed to cement crypto industry goals into law. make it hard for a future administration to undo. without it we’re having this conversation again in like four years when whoever wins 2028 decides to flip the table. Stablecoin yield is still the main issue being debated. other outstanding questions haven’t been resolved either
the house already worked out most of the sales practices and DeFi stuff but the senate is just… stalling.
we’re 30 days from a deadline that would’ve locked in regulatory clarity for actual years and the space is more focused on whether bitcoin breaks $80k or not.
this is the boring structural stuff that actually matters and it’s dying in real time while everyone watches hacks and price action.
