U.S. Senate Banking Committee Postpones Cryptocurrency Bill Hearing Following Coinbase Withdrawal of Support

The U.S. Senate Banking Committee postponed the hearing scheduled to amend and vote on the Cryptocurrency Market Structure Bill draft on the 15th. This decision was made following Coinbase's withdrawal of support for the bill, with the new date for the hearing yet to be determined.

The hearing was originally scheduled for the morning of the 16th. The bill aimed to clarify the regulatory jurisdictions of the Commodity Futures Trading Commission and the Securities and Exchange Commission, define whether digital assets are securities or commodities, and establish new disclosure requirements. Chairman Tim Scott stated in a declaration on the evening of the 15th that he continues to consult with industry stakeholders, the financial sector, and bipartisan members of Congress, all of whom are earnestly engaged in the discussions, expressing optimism for progress in the deliberations.

The bill was discussed on the evening of the 14th...