Senator Tim Scott Aims for December Vote on Crypto Bill

Senator Tim Scott announced his intention to advance a crypto market structure bill, targeting a committee vote next month. Speaking on Tuesday, Scott expressed a goal to have the legislation ready for the Senate floor early in the next year, with the hope that it could be signed into law by early 2026.

Scott, a leading Republican on the Senate Banking Committee, criticized Democrats for what he described as delaying the bill’s progress. He stated that the proposed legislation aims to establish the United States as a global hub for the cryptocurrency industry.

Cloudflare Disruption Causes Temporary Access Issues

A widespread outage at the web infrastructure company Cloudflare led to temporary access problems for several cryptocurrency platforms and social media sites. Users reported difficulties connecting to various services during the disruption before the issue was resolved.

Bitcoin Price Dip Puts Recent ETF Buyers at a Loss

Following a recent price correction in Bitcoin, a significant number of investors who recently purchased spot Bitcoin exchange-traded funds (ETFs) are now seeing their positions at a loss. The downturn highlights the volatility of the market and affects the profitability for those who entered at higher price points since the funds were launched.