‘New crypto bill unlikely to get Senate vote’

Bloomberg

A sweeping piece of legislation that would overhaul how the cryptocurrency industry is regulated by Washington is unlikely to be voted on this year by the US Senate, according to one of the lawmakers driving the effort.
Wyoming Senator Cynthia Lummis said that the full bill she released last month with Democrat Kirsten Gillibrand would probably not be considered until next year.
The lawmakers said various Senate committees, which first need to first green-light aspects of the proposal, could
advance pieces of the plan during 2022.
“It’s a big topic, it’s comprehensive, and it’s still new to many US senators,” Lummis, a Republican, said in a joint prerecorded interview with Gillibrand that was played at the Bloomberg Crypto Summit. She added that the wide-ranging scope of the legislation may make it difficult for lawmakers to digest quickly.
Lummis and Gillibrand have said their plan seeks to both create guardrails to protect consumers and leave space for innovation in digital assets. The bipartisan legislation is being closely watched by the industry and regulators as it’s considered to be among the efforts that have the best chance of becoming law.