US cryptocurrency legislation has been delayed until 2024 due to a Republican leadership battle, key lawmakers say.

“I think that’s set us back a little bit,” said Sen. Cynthia Loomis (R-Wyo.) at the same event. Lummis, who has been pushing her own broad cryptocurrency bill in the Senate, suggested her stablecoin bill in particular could make more progress next year. “This is an area that could come out as early as 2024,” she said. As the committee’s top Democrat, Maxine Waters (D-Calif.), withdrew her support, Jim Himes (D-Conn.), who took a leading role in House negotiations on both bills, said the industry must respond to House Democrats’ demands. I suggested doing so. We’re hearing from outside groups and U.S. Securities and Exchange Commission Chairman Gary Gensler, who are dedicated critics of the industry.