North Carolina Senator and Republican member of the U.S. Senate Banking Committee Thom Tillis has warned that Congress has only a few months left to advance cryptocurrency legislation, after which electoral politics will hinder progress.
According to a Bloomberg report on Monday, Tillis stated that the 2026 midterm elections could obstruct the progress of any cryptocurrency bills currently moving through Congress, such as the market structure framework bill passed by the House in July, which is currently under consideration in the Senate.
Tillis indicated that lawmakers should take action "before early January or February" to pass any legislation during this session, which will end in January 2027.
According to Bloomberg, Tillis said, "I am not optimistic about our ability to make more progress on digital assets, stablecoins, or cryptocurrencies in this Congress."
Tillis's remarks were made during the U.S. government shutdown, which began on October 1, after lawmakers failed to reach an agreement on funding legislation due to Democratic concerns over healthcare cuts and subsidies.
Although the Senate is still in session, House Speaker Mike Johnson has continued to delay House business since the shutdown began.
Among the cryptocurrency-related bills stalled due to the government shutdown is the CLARITY Act, which was passed by the House in July, and Senate leaders have indicated they will "build" on it to pass market structure legislation.
Senate Banking Committee Republican leader Cynthia Lummis stated before the government shutdown began that the Senate version of the bill, titled the "Responsible Financial Innovation Act," is expected to become law before 2026.
On Saturday, U.S. Securities and Exchange Commission (SEC) official Michael Selig stated that President Donald Trump has nominated him to serve as chairman of the Commodity Futures Trading Commission (CFTC), one of the key financial regulatory agencies affecting how cryptocurrency companies operate in the U.S.
As of Monday, his confirmation hearing had not yet appeared on the Senate schedule.
Related: BTC price aims for record monthly close: 5 things Bitcoin needs to know this week
Original article: “Republican Lawmaker Warns: Time is Running Out for U.S. to Pass Cryptocurrency Bills”
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