Galaxy Research Director interprets the prospects of the Crypto Structure Bill vote: viewed as a significant positive, with阻碍 or suppression sentiments

CoinVoice has learned that Galaxy Research Director Alex Thorn posted on the X platform analyzing the upcoming vote on the Crypto Market Structure Bill by the U.S. Senate Banking Committee. He stated that the current Senate seat distribution is 53 to 47, but typically a bill requires 60 votes to pass, meaning the Republicans still need 7-10 Democratic lawmakers’ support for the bill to be approved.

Alex Thorn added that the Crypto Market Structure Bill is significant, as it involves the classification of DeFi under anti-money laundering rules, the handling of stablecoin reserve yields, protections for non-custodial developers, and the SEC’s authority or restrictions over token issuance. If passed, it will become a major bullish catalyst for the mainstream adoption of cryptocurrencies. If it fails to advance, although the overall impact on the crypto industry’s fundamentals may be relatively small, it could lead to negative market sentiment.