Michaela
North Carolina Senator Thom Tillis, serving on the Senate Banking Committee, has cautioned that Congress has just a few months to advance cryptocurrency legislation before the election cycle slows momentum.
Key points:
- Senator Thom Tillis warns Congress has only a few months to advance crypto legislation before the 2026 midterms could stall progress.
- Key bills like the CLARITY Act and market structure framework face delays due to the recent government shutdown, slowing regulatory momentum.
- Tillis supports a balanced approach to crypto, co-sponsoring measures like the PROOF Act for transparency, anti-money laundering standards, and clearer regulatory roles for the SEC and CFTC.
According to a report by Bloomberg, Senator Tillis warned that progress on current crypto bills in Congress, including the market structure framework passed by the House in July, could be slowed by the 2026 midterm elections.
Tillis urged lawmakers to act by early January or February to pass legislation this session, signaling limited optimism for further movement on digital assets, stablecoins, or broader crypto measures in the current Congress.
Among the crypto-focused bills delayed by the recent U.S. government shutdown that began on October 1 was the CLARITY Act. Passed by the House in July, Senate leaders had indicated plans to expand on the legislation to advance market structure reforms, but progress has now been put on hold due to the shutdown.
Senator Tillis has been actively involved in shaping U.S. cryptocurrency policy, advocating for a balanced regulatory approach that fosters innovation while addressing risks. He has co-sponsored bipartisan bills such as the PROOF Act, which would require monthly third-party audits of digital asset firms to ensure transparency and prevent misuse of customer funds.
Tillis has also helped develop proposals aimed at strengthening anti-money laundering standards for crypto institutions and clarifying the regulatory roles of the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).
Lawmakers, regulators, and market participants are watching closely to see how U.S. policy will shape the global crypto landscape. Beyond legislation, the outcome may influence investor confidence, business strategy, and the development of emerging technologies tied to digital assets.
While the exact timeline remains uncertain, the current discussions spotlight a broader recognition that cryptocurrencies are no longer a niche market, they are becoming an integral part of the financial system, demanding both attention and thoughtful policy.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
