Where is the Senate’s focus – Bitcoin or real estate?

The U.S. cryptocurrency market bill is likely to be delayed by at least a few weeks as key lawmakers shift their attention to potential housing legislation in support of President Donald Trump’s efforts for affordable housing, according to people familiar with the matter.

This move by the Senate Banking Committee follows calls from the Trump administration to reduce expenses for Americans ahead of this year’s upcoming congressional elections. The panel is likely to postpone consideration of the main digital assets legislation, which was already delayed last week, until the end of February or March, some sources who asked to remain anonymous say.

Although Trump and senior administration officials are prioritizing cryptocurrencies, housing represents the largest monthly expense for most Americans and a key factor in inflation. Concerns about costs are seen as a political challenge after several key losses by the Republican Party late last year.

Lawmakers are considering a law that would fulfill Trump’s call to prevent the purchase of single-family homes by large institutional investors, one source who wished to remain anonymous says.

Trump signed an executive order on Tuesday directing the administration to issue guidelines to prevent the government from supporting or facilitating such sales. The order also instructs the Treasury Department to set thresholds for which investors qualify as large institutions.

A spokesperson for the Senate Banking Committee declined to comment, and the White House has not yet responded to a request for comment.

It is still unclear how much impact such a move will have on housing prices. Large institutional investors own less than 1% of single-family homes in the country, according to some estimates.

Crypto Bill

Meanwhile, the shift toward housing raises additional questions about whether the Senate will manage to pass new legislation on the structure of the crypto market.

Supporters of the proposals point out that they would provide clearer jurisdictional lines between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding the industry. Both regulators claim to have control over digital assets but say Congress needs to clarify their roles.

Work on the bill by the Senate Banking Committee was suddenly postponed last week after Coinbase Global Inc. withdrew its support. This delay gives various financial and crypto companies more time to lobby for legislation that could gain broad support.

The Agriculture Committee will also have a say on any bill that passes the Senate. It published its version of digital assets legislation on Wednesday and plans to discuss it on January 27. The draft was published without the support of Democratic Senator Cory Booker, which could signal potential difficulties.

“Although there remain differences on fundamental policies, this bill is based on our bipartisan project and includes stakeholder input, representing months of work,” says John Boozman, chairman of the Senate Agriculture Committee.

The proposal from this committee will need to be combined with the measure from the Banking Committee before a full Senate vote.