WASHINGTON—Even with elections looming, the Senate is working towards approving a bipartisan bill on cryptocurrency regulation before the end of the year, according to a new report.
In a recent virtual town hall, Senate Majority Leader Chuck Schumer (D-NY) voiced confidence in prospects for the bill that seeks to help establish clear rules in the burgeoning crypto space, which has been calling for regulation, according to the Coin Telegraph.
During a “Crypto4Harris event,” Schumer (D-NY) stressed the need for reasonable crypto laws and expressed optimism that the Senate could get the necessary bipartisan support for the bill before the year ends, The Coin Republic reported, adding that Schumer’s comments come as the country prepares for the next presidential elections in 2024 and the “crypto industry becomes more critical.”
Senator Debbie Stabenow (D-MI), the chair of the Senate Agriculture Committee, is overseeing the bill.
‘Come Together’
“Schumer, who has worked with Republicans on cryptocurrency issues before, wants both parties to come together. This commitment demonstrates a strong effort to ensure the U.S. continues to be at the forefront of technological advancement, especially in the crypto space,” The Coin Republic stated.