Housing Pushes Crypto Off Washington’s Agenda
Housing — the single biggest monthly expense for most Americans — is now crowding cryptocurrency legislation off the U.S. congressional calendar.
According to Bloomberg, the Senate Banking Committee is expected to delay consideration of sweeping digital-asset market structure legislation until late February or March, as lawmakers shift their focus to housing affordability ahead of this year’s congressional elections.
The delay follows an earlier postponement last week and further dims the prospects for comprehensive crypto regulation advancing anytime soon.
Housing affordability takes precedence
Despite senior officials repeatedly describing crypto as a policy priority, inflation-sensitive voters appear far more concerned with mortgage payments, rent, and housing availability than digital assets.
That political reality has pushed lawmakers to explore legislation aligned with President Donald Trump’s recent executive order targeting large institutional investors buying single-family homes. The order directs federal agencies to restrict government-backed support for such purchases.
Estimates suggest institutional investors own less than 1% of U.S. single-family homes, raising questions about how much the policy would actually affect prices. Still, housing costs are widely viewed as a political vulnerability after Republicans lost several key elections late last year.
Trump himself previously dismissed the affordability debate as a “democratic hoax,” yet housing has nevertheless risen to the top of the legislative agenda.
Crypto bill stalls amid growing friction
The pause gives fresh breathing room to tensions surrounding the crypto bill, which aims to clarify regulatory authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) — a jurisdictional dispute both agencies say only Congress can resolve.
Momentum slowed further last week after Coinbase Global withdrew its support, citing concerns over provisions affecting stablecoin rewards, tokenized equities, and decentralized finance. The move reopened the door for renewed lobbying by crypto firms, banks, and traditional financial players.
Meanwhile, the Senate Agriculture Committee, which also holds jurisdiction, is pressing ahead. It plans to release its own version of digital-asset legislation later this week and could hold a vote on Jan. 27, setting up an eventual reconciliation with the Banking Committee’s proposal before any full Senate consideration.
A public rift inside crypto
Outside Congress, the delay has ignited a public dispute within the crypto industry itself.
Cardano founder Charles Hoskinson sharply criticized Ripple CEO Brad Garlinghouse for backing what Hoskinson described as a flawed market-structure bill. He warned that accepting “good enough” regulation risks locking in rules that could permanently disadvantage decentralized finance.
Garlinghouse has taken the opposite view, arguing that “clarity beats chaos” and praising lawmakers for advancing frameworks he believes can be improved during the legislative process.
Hoskinson rejected that logic outright, warning that once regulations are enacted, reversing them can take years — if it happens at all.
Waiting game continues
The clash highlights a deeper divide in crypto: whether the industry should accept imperfect regulation now to gain certainty, or resist legislation that could entrench advantages for banks and other incumbents.
For now, crypto remains sidelined — waiting as Congress prioritizes housing, and the industry debates whether compromise represents progress or surrender.
