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Crypto market bill hits Senate roadblock

Legislation to create clear rules for the cryptocurrency industry has hit a roadblock in the Senate after bipartisan negotiations broke down, leaving the bill’s path forward increasingly uncertain.

© Greg Nash

Crypto market structure legislation, which aims to establish which financial regulator will oversee different portions of the industry, seemed to be inching forward in the upper chamber.

However, progress screeched to a halt this month after a Democratic proposal for a portion of the bill was leaked, provoking sharp industry backlash and derailing talks between Republicans and crypto-friendly Democrats.

Negotiations are at a standstill, with Capitol Hill preoccupied by the government shutdown, which threatens the chances of

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