The Senate Banking Committee pushed back its crypto market structure bill until late February or March after Coinbase Global Inc. (NASDAQ:COIN) withdrew support, with lawmakers now prioritizing housing legislation instead.
Housing Beats Crypto On The Priority List
The Senate Banking Committee is shifting focus to housing legislation, following President Donald Trump’s executive order directing his administration to prevent large institutional investors from purchasing single-family homes.
Housing is most Americans’ largest monthly expense and a key contributor to inflation.
With congressional elections approaching this year, Republicans see affordability as a political liability after losing several key races late last year.
The pivot gives financial and crypto industry players more time to lobby for an agreement on legislation that can win wide support—but it also raises questions about whether the Senate’s crypto market structure bill will ultimately succeed.
Why Coinbase Pulled Out
Coinbase withdrew from the …