The Senate Banking Committee is backing Donald Trump’s move to bar institutions from buying family homes, which could delay the market structure bill, Bloomberg reports.
Crypto market structure legislation could be delayed by several weeks as the Senate Banking Committee is shifting focus to US President Donald Trump’s affordability agenda, according to a report from Bloomberg, citing people familiar with the matter.
On Tuesday, Trump signed an executive order barring Wall Street investors from buying single-family homes.
The move was seen as part of the Trump administration’s attempt to push down costs before the US midterm election in November.
Bloomberg reported on Wednesday that the committee is likely to switch focus away from the crypto bill in order to implement the executive order.
It could potentially be the Senate’s latest delay to the crypto bill, which has seen two key committees postpone scheduled markups for the legislation to garner bipartisan support.
Coinbase, a major lobbyist, has also pulled support for the bill over disagreements with provisions regarding stablecoins and decentralized platforms.
Republicans are pushing to get policy wins to take into the midterm elections in November, as the latest polling and Polymarket odds show Democrats ahead with a nearly 80% chance of winning a majority in the House, which could derail Trump’s agenda.
The Trump administration has prioritized crypto policy in its first year, but the soaring cost of living has voters putting affordability as a top concern heading into the elections.
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This is a developing story, and further information will be added as it becomes available.