The Chairman of the U.S. Senate Banking Committee is expected to vote on the Cryptocurrency Market Structure Bill next month

BlockBeats News, November 19th, according to The Block, U.S. Senate Banking Committee Chairman Tim Scott said on Tuesday that he plans to push the committee to vote on the cryptocurrency market structure bill next month.

In an interview, Tim Scott stated: "By the end of this year, next month, we believe we can mark up and vote in two committees and submit the bill to the full Senate for a vote early next year for President Trump to sign into law."

As this market structure legislation involves both securities and commodities regulation, it requires approval from both the Senate Banking Committee and the Agriculture Committee. Tim Scott stated that this legislation will protect consumers while helping to solidify the U.S.'s position as the world's strongest economy in the next century. The Republican senator had pushed for the passage of this bill before September this year, but was unsuccessful, which he attributed to obstruction from the Democratic side.