Severe storm conditions in the United States led to the closure of the Senate and other government facilities on Monday.

US Severe Storm

The Senate Agriculture Committee, along with two federal financial agencies, have postponed discussions regarding digital asset regulation due to severe weather that has impacted many areas over the weekend. A spokesperson for the Senate Agriculture Committee Chair, John Boozman, informed Cointelegraph that a scheduled markup for the Digital Commodity Intermediaries Act would now occur on Thursday instead of Tuesday. This bill aims to create clear guidelines for the Commodity Futures Trading Commission (CFTC) regarding digital assets.

Simultaneously, the CFTC announced a delay of two days for a collaborative event focused on crypto oversight with the US Securities and Exchange Commission (SEC), which is now set for Thursday. CFTC Chair Michael Selig and SEC Chair Paul Atkins are to discuss the necessary alignment between these two regulatory agencies.

Reports indicate that severe winter weather has resulted in power outages and treacherous road conditions, causing many schools to close and flights to be canceled. The ongoing discussions in the Senate regarding market structure and digital assets remain crucial, especially as speculation suggests potential government shutdowns if funding agreements are not reached by the end of January.

Senator Michael Bennet has proposed amendments regarding ethical concerns related to officials profiting from the crypto industry. As lawmakers prepare for the upcoming markup, it will be critical to garner support to advance the bill to a floor vote, particularly amid existing industry apprehensions.