Congress Was Supposed to Vote on 3 Crypto Bills This Week

The U.S. Congress was expected to vote on three cryptocurrency-related bills this week, which were supported by the crypto industry. However, a group of ultraconservative House Republicans blocked the vote, derailing the industry's plans. The three bills included measures to create a regulatory framework for digital assets, provide clarity on their tax treatment, and establish a task force to combat illicit financing using cryptocurrencies. These bills were seen as important steps in bringing greater legitimacy and oversight to the crypto sector. The decision to postpone the vote came amid ongoing debates within the Republican party over the appropriate level of regulation for the crypto industry. The conservative faction argued that the bills did not go far enough in addressing their concerns, leading to the delay in the legislative process. The postponement of the vote is a setback for the crypto industry, which was hoping for a clear regulatory path forward. The future of these bills remains uncertain, as Congress will need to navigate the political divisions within the party to find a path forward.