According to Odaily Odaily, Galaxy Research Director Alex Thorn stated in an article on the X platform that the U.S. Senate Banking Committee will vote on the crypto market structure bill on January 15th. Currently, the Senate seats are split 53 to 47. Since a bill typically requires 60 votes to pass, Republicans still need to secure the support of 7 to 10 Democratic senators.
Alex Thorn stated that the bill addresses the classification of DeFi under anti-money laundering rules, the handling of stablecoin reserve yields, protection of non-custodial developers, and the SEC's authorization or restrictions on token issuance. If passed, the bill would be a major bullish catalyst for cryptocurrency adoption; if it fails, while its overall impact on the industry's fundamentals would be relatively small, it could lead to negative market sentiment.
