According to CoinDesk, a number of informed sources have revealed that a new draft of the coded market structure bill will probably be published this week, but challenges remain.
A new draft is about to be released
Last week, informed sources indicated that the legislator plans to publish this week an updated coded market structure bill. The new text would consolidate the version of the bill previously adopted by the Senate Committee on Banking and Agriculture and would consult on its provisions.
Lack of ethical provisions
While the new draft was expected to add some 70 pages, it did not yet include ethical provisions or resolve other contentious issues, which meant that the voting was not yet ready. If the vote is announced, it is expected that at least 60 votes will be required, which means that at least seven Democrats will be required to support the bill.
Political background and voting prospects
With the mid-2026 elections approaching, legislators will face voter pressure after the summer recess. The lack of ethical provisions in the new draft could lead to a reluctance on the part of Democrats to support the bill. At the same time, the influence of Trump and his gains in the area of encryption will also be important factors in the vote. Without ethical provisions, the likelihood of cross-party support would be significantly reduced.
Additional information:A number of hearings related to the Financial Services Commission and the Consumer Financial Protection Authority are expected to take place on Tuesday and Wednesday to further influence the discussion of the bill.