Work on US crypto market structure legislation was delayed after a severe winter storm forced closures across Washington, postponing key congressional and regulatory events.
The US Senate Agriculture Committee delayed a planned markup of its crypto market structure bill to Thursday, according to a spokesperson for chair John Boozman.
The bill, known as the Digital Commodity Intermediaries Act, aims to clarify the authority of the Commodity Futures Trading Commission over digital assets.
Separately, the CFTC said a joint event with the US Securities and Exchange Commission on crypto oversight harmonisation would also be pushed back to Thursday, with chairs Michael Selig and Paul Atkins due to take part.
The delays followed a winter storm that caused power outages, flight cancellations and what officials described as treacherous road conditions across parts of the US capital.
The Agriculture Committee’s markup marks the Senate’s second attempt to address crypto market structure after banking committee chair Tim Scott canceled a similar effort following opposition from Coinbase chief executive Brian Armstrong.
Democrats on the committee are also pushing amendments, including one from Michael Bennet seeking to bar US officials from profiting from crypto, though a potential government shutdown could further delay progress.