The U.S. Senate's market structure bill should pass by the end of the year, leading lawmakers working on the effort said Wednesday, though efforts on this bill will likely push beyond the Sept. 30 deadline previously set by the Senate Banking Committee's head.

"I don't want to put an artificial deadline on anything," said Senator Kirsten Gillibrand (D-N.Y.), speaking at CoinDesk's Policy and Regulation event in Washington, D.C. "We're in the middle of negotiations about whether we're going to have a bipartisan budget, so the most important issue that Congress has to deal with right now is the fiscal cliff."

The question of timing has loomed large in the market structure work, with President Donald Trump having initially set an August deadline to have all the congressional crypto work on

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