Senate Agriculture Committee talks on encrypted legislation have taken a turn for the better as Democrats have expressed their willingness to return to negotiations.
PANews reported on January 27th that, according to The Block, the U.S. Senate Agriculture Committee, originally scheduled to deliberate and vote on comprehensive cryptocurrency legislation this Tuesday, has postponed it to Thursday due to weather conditions. A Democratic aide familiar with the negotiations stated that although Republicans unilaterally drafted a new version of the bill in early January without consulting Democrats and planned to proceed with the vote, hindering bipartisan cooperation, a group of Democratic senators is still willing to return to the negotiating table with Committee Chairman John Boozman's team to try and reach a bipartisan consensus before the vote.
The aide pointed out that from November to the end of last year, the two parties' teams held intensive bilateral consultations and stakeholder meetings on the draft bill, and the process was progressing well. However, after the New Year, the Republicans unilaterally changed their plans. A spokesperson for the Agriculture Committee stated that the bipartisan meetings over the past few months have been fully discussed, the current version reflects most of the negotiated content, and the issues with disagreements have reached the stage where a vote must be taken. Patrick Witt, executive director of the White House Digital Assets Advisory Council, recently publicly called for the market structure bill to be passed as soon as possible while the government's friendly attitude towards the crypto industry is in place. Analysts point out that if the bill fails to pass, the US crypto industry may continue to face a "structural risk premium," and its development potential will be suppressed.
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