NYDIG: Senate Crypto Market Structure Bill May Completely Fail After Midterm Elections If Not Passed by August

May 18th News, according to Cointelegraph, Greg Cipolaro, Head of Research at NYDIG, stated that if the U.S. Senate's crypto market structure bill is not passed by August, it may completely fail after the midterm elections. Cipolaro pointed out that the Senate Banking Committee passed the bill along party lines last week, but it requires 60 votes to pass the Senate. Congress will be in recess from late July to early September, followed by the period leading up to the midterm elections, making it unlikely for Senate leadership to schedule a controversial 60-vote tally. If this window is missed, the most likely path would be a lame-duck session after the elections. If Democrats control the Senate after the midterm elections, the current Republican-backed bill is unlikely to advance in the new Congress in January next year. Cipolaro said lawmakers face a choice: either accept an imperfect bipartisan framework or face a very different legislative environment after the midterm elections. White House crypto advisors previously aimed for the bill to pass by July 4th, but Cipolaro believes a more realistic window is from June to early August.