Analysis: Despite the delay in the crypto bill review, both parties are still expected to reach an agreement on benefits, potentially resolving the controversy surrounding tokenized securities.
according to crypto journalist Eleanor Terrett, "Nearly 24 hours after the Republican House Financial Services Committee halted the bill review, crypto industry practitioners, lawmakers, and staff have made preliminary judgments about the cause and subsequent developments of the event, but many still feel 'angry' about yesterday's developments.
After communicating with several crypto industry figures and staff from the House Financial Services Committee, it was found that all parties generally believe there is still room for maneuver — if in the next few days, the relevant parties (i.e., banking institutions, an exchange, and Democrats) can reach a consensus on the issue of crypto reward rights, the bill is 'likely' to be taken off the shelve.
As for the tokenized securities-related provisions (namely Section 505 of the bill, which requires the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to conduct special studies and initiate a public notice and comment rulemaking process as appropriate), it currently does not constitute an obstacle for two reasons: first, tokenized issuance institutions now state that the relevant statements previously objected to by an exchange were taken out of context; second, some stakeholders, including Brian Armstrong, claim they have reason to believe that major revisions or even complete removal of this provision have been included in the discussion scope.
Ethical controversies remain unchanged from yesterday, and it is said that consultations between the White House and the Senate are ongoing.
Finally, the public is also paying attention to whether the House Financial Services Committee’s postponement of the bill review will affect the House Agriculture Committee’s timeline. Insiders say the order of progress between the two committees is actually irrelevant; if the House Agriculture Committee can facilitate a bipartisan-supported agreement, it may instead clear the way for the Senate Banking Committee’s related review process. This scene actually played out last summer in the House: at that time, the Republican House Agriculture Committee passed the relevant parts of the 'Cryptocurrency Regulatory Clarity Act' with an overwhelming bipartisan vote of 47 to 6, which also injected confidence into the members of the House Financial Services Committee who followed up with the bill review — although the latter did not receive the same scale of Democratic support."
