Opinion: Passage of the crypto market structure bill would be a bullish catalyst.

Galaxy Research Director Alex Thorn stated in an article on the X platform that the U.S. Senate Banking Committee is scheduled to vote on the Crypto Market Structure Bill on January 15th. Currently, the Senate seats are split 53 to 47. Since bills typically require 60 votes to pass, Republicans still need to secure the support of 7 to 10 Democratic senators. Thorn indicated that the bill addresses the classification of DeFi under anti-money laundering rules, the handling of stablecoin reserve yields, protection of non-custodial developers, and the SEC's authorization or restrictions on token issuance. If the bill passes, it will be a major bullish catalyst for cryptocurrency adoption; if it fails, while the overall impact on industry fundamentals will be relatively small, it could lead to negative market sentiment.