Trump wants to "tackle the real estate market before dealing with crypto"; the US Congress postpones the "cryptocurrency bill" for several weeks.

The U.S. Senate Banking Committee is shifting its legislative focus from cryptocurrency to housing policy.

On January 21, according to sources cited by Bloomberg, the U.S. cryptocurrency market bill may be delayed by at least several weeks, until late February or March, as the committee is studying Trump’s housing policies to implement his requirements.

Previously, on Tuesday, Trump signed an executive order instructing his administration to issue guidance to prevent the government from supporting or facilitating large institutional investors in purchasing single-family homes. The order also directs the U.S. Treasury to formulate a threshold definition to determine which investors qualify as large institutions.

However, the actual impact of this move on housing prices is still unclear. According to estimates, large institutional investors own less than 1% of such single-family homes in the U.S.

Although Trump and senior members of his administration have made cryptocurrency a priority, housing remains the largest monthly expense for most Americans and a major driver of inflation.

After key losses in several pivotal elections late last year, there is widespread belief that concerns over housing costs could become a political liability for the Republican Party.

Uncertain Outlook for Cryptocurrency Legislation

The shift in legislative focus has cast a shadow over the Senate’s efforts to draft new laws on the structure of the cryptocurrency market.

Supporters claim the proposal would clarify the jurisdictional boundaries between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over the crypto sector. Both regulators assert some authority over digital assets but have stated that Congress needs to define their respective responsibilities.

Last week, legislative efforts were abruptly delayed due to Coinbase withdrawing its support. This postponement may give parties in the financial and crypto industries more time to lobby for a broadly supported legislative agreement.

The legislative process also faces complexities in committee coordination. The U.S. Senate Agriculture Committee also has a say in the final bill. That committee plans to release its version of digital asset legislation later on Wednesday and may vote on it on January 27.

However, the Agriculture Committee’s version must be merged with the bill reviewed by the Banking Committee before being submitted for a full Senate vote. This process adds even more uncertainty to an already unpredictable legislative effort.

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