Congress is back in session and top Democrats say they want to pass crypto legislation by November. They don't have much time and other important matters occupy the Senate Dems.
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With a shortened schedule and a government shutdown, the chances of crypto regulatory legislation being heard before the US election are slim.
Today, Congress is back in session after the summer — but Only three weeks before lawmakers adjourned again to begin campaigning ahead of the Nov. 5 election.
Government funds end on September 30 and a The fight is on between parties on issues such as voting requirements.
Democratic Senate Majority Leader Chuck Schumer has said he wants to pass crypto legislation before the end of the year.
However, the crypto issue did not come in A letter He sent a letter to Senate Democrats asking for bipartisan cooperation to avoid a “senseless and painful shutdown.”
Crypto laws can be bundled into larger bills and passed during a so-called “lame duck” session or after the election and before the first day of the new Congress.
Lawmakers use these sessions to pass emergency bills or tie up loose ends.
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Among those in the works are two market structure bills:
The FIT21 Act is the brainchild of House Financial Services Committee Chair Patrick McHenry, who is set to retire at the end of 2024. A separate bill by Senate Agriculture Chair Debbie Stabenow, It's late. Stabenow, too, said she is not seeking re-election.
However, that doesn't mean September won't be busy.
Hearing Schedule
Hearings are ostensibly a way for legislators to gather information before writing bills.
But they are Widely considered a waste of time – Lawmakers have opportunities to stand tall and perform by grilling witnesses, but the real work is done in committee.
However, they can gauge a legislator's thinking on a given issue.
Securities and Exchange Commission Chair Gary Gensler may get such a grilling by the end of September on his agency's enforcement agenda, which includes several actions against crypto businesses.
Nothing is on the calendar yet, but Gensler is expected to appear before both chambers of Congress.
Some upcoming inquiries:
The House Financial Services Committee has scheduled a hearing “Decoding Defy” for Tuesday. Inquiry into the butchering of pigs reported For September 18.
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