The Senate Banking Committee has postponed its planned markup of crypto market structure legislation after growing industry backlash and political disagreements stalled progress.

What Happened: Journalist and host Eleanor Terrett on Friday outlined that frustration remains high nearly a day after the GOP-led Banking Committee pulled the markup.

However, insiders believe the bill is not dead.

Industry participants and committee staffers say that if banks, Coinbase (NASDAQ:COIN) and Senate Democrats can quickly reach a compromise on stablecoin yield, the legislation is likely to move forward again.

Section 505, which addresses tokenized securities, is increasingly viewed as a non-issue.

Benzinga