The chairman of the U.S. Senate Banking Committee expects a vote on the cryptocurrency market bill next month.

Foresight News reported, according to The Block, that U.S. Senate Banking Committee Chairman Tim Scott said on Tuesday that he plans to have the committee vote on the cryptocurrency market structure bill next month. Tim Scott stated, "By the end of this year, that is, next month, we can review and vote in both committees, and submit the bill to the full Senate for consideration at the beginning of next year, so that President Trump can sign the bill." Market structure legislation requires approval from both the Senate Banking Committee and the Agriculture Committee, as it involves both securities and commodities regulation. The Republican senator had pushed for the bill to be passed before September this year, but was ultimately unsuccessful, blaming Democrats for the failure.

This summer, after the House of Representatives passed its version of the cryptocurrency market structure legislation, the "CLARITY Act," the Senate has been working on its own cryptocurrency market structure legislation.