US Cryptocurrency Market Structure Bill, 65% Chance of Becoming Law...Trump's Signature a Reality?

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It is reported that the U.S. Senate Banking Committee will announce the markup process for the U.S. Cryptocurrency Market Structure Bill as early as Friday, accelerating discussions on crypto regulatory legislation that had been delayed for several months. Although the bill's text has not yet been finalized, there is a possibility that the committee vote will take place on May 14.

According to Coingape on May 8 (local time), the U.S. Senate Banking Committee is preparing to announce the markup schedule for the U.S. Cryptocurrency Market Structure Bill to its members. Eleanor Terrett, a former Fox Business reporter, stated on X (formerly Twitter) that the committee could make a related announcement as early as today. The committee has already circulated a draft of the bill to some officials in the banking and crypto industries.

This process comes as Republican Senator Thom Tillis and Democratic Senator Angela Alsobrooks finalize a compromise on stablecoin yield. Coingape reported that the Senate Banking Committee is likely to announce an official meeting date ahead of a possible vote next Thursday. The bill has been delayed for several months due to negotiations surrounding stablecoin yield and reward provisions.

If the U.S. Cryptocurrency Market Structure Bill undergoes a markup next week, committee members will review, amend, and finalize the bill's language before a full Senate vote. Terrett stated that further amendments are expected to reflect the priorities of Democratic offices. While the current text is generally well-received, some bracketed provisions are still under discussion, and the banking sector is reportedly opposing the stablecoin yield compromise.

Pressure for the bill's passage is also growing within and outside political circles. A national poll by HarrisX showed that 52% of voters supported the U.S. Cryptocurrency Market Structure Bill, with only 11% opposing it. Coingape reported that a majority of Democratic, Republican, and independent voters are calling for clear cryptocurrency regulation and strong consumer protection.

White House crypto advisor Patrick Witt described the poll as essential reading for all policymakers and elected officials dealing with the U.S. Cryptocurrency Market Structure Bill. Witt and Senator Bernie Moreno confirmed that Trump could sign the bill by July 4. Polymarket data indicates a 65% chance that the U.S. Cryptocurrency Market Structure Bill will become law this year.

Robinhood CEO Vlad Tenev stated that the U.S. Cryptocurrency Market Structure Bill has finally gained significant momentum to reach the finish line. He added that with just one more push, the U.S. would establish the legislative foundation to secure dominance in digital finance. The Senate Banking Committee's markup announcement is expected to be a turning point, moving discussions on establishing a U.S. crypto regulatory framework into a full voting phase.

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