Crypto week legislation hits snag in US Congress, some stocks fall [View all]

Source: Reuters

By Chris Prentice

WASHINGTON (Reuters) -The fate of long-awaited cryptocurrency legislation in the U.S. Congress was cast into doubt Tuesday, as a procedural vote to consider the measures was shot down by lawmakers from both parties, and shares of some companies in the sector fell.

House Republicans had billed this week as "Crypto week," and were keen to advance numerous pieces of legislation aimed at providing clarity to the digital asset industry and long-sought legitimacy to the sector.

But those efforts hit an early snag on Tuesday, when several conservative Republicans joined with Democrats in blocking a procedural vote to allow consideration of three crypto bills as part of a dispute over how the measures should be packaged and considered.

Shortly after the vote, House Speaker Mike Johnson told reporters that he planned to continue discussing the matter with members and hoped to vote on it again shortly.

Read more: https://finance.yahoo.com/news/crypto-bills-hit-procedural-snag-195622775.html