🔥 The advancement of the Crypto Market Structure Act has stalled, with May 25th regarded as a critical deadline

On April 27th, there was almost no public progress on the Crypto Market Structure Act in the past month. The window for passing the bill is narrowing, and the SEC's guidance is not permanent; rulemaking takes time. Legislation on market structure aims to formalize crypto regulation goals into law, making future overturns more difficult. Memorial Day on May 25th is seen as the "final deadline" for legislative progress, after which lawmakers will leave to campaign. Before Congress adjourns, the House still needs to review the Department of Homeland Security funding bill, and the Senate must decide on the Federal Reserve Chair nominee. Over 100 institutions signed an open letter urging the Senate Banking Committee to hold hearings, but issues like stablecoin yields remain unresolved. French Hill, Chair of the House Financial Services Committee, stated that the House version has addressed...