While some in the crypto industry may be disappointed that an industry ally was not chosen as the Speaker of the House this week, there may be reason for optimism. The annual defense policy bill, the National Defense Authorization Act, is being negotiated between the House and Senate, and there is a potential for crypto-related measures to be included in the final version.
Whether or not these provisions make the cut remains up in the air, largely because the legislative priorities differ between the House and Senate. House Republicans have focused on creating a stablecoin and market structure regulatory framework. On the other hand, the bills that have seen the most success in the Senate would establish new anti-money laundering regulations for digital asset businesses.
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