The Senate Banking Committee has delayed markup of a bipartisan crypto market structure bill, adding to earlier postponements by the Agriculture Committee and extending uncertainty around the legislation’s timeline. Announced late Wednesday, Senate Banking Committee Chair Tim Scott issued a statement saying he had spoken with leaders across the crypto industry, the financial sector, and both parties in Congress, reaffirming that negotiations were continuing in “good faith.”
The bill aims to define regulatory jurisdiction for crypto between the Securities and Exchange Commission and the Commodity Futures Trading Commission, as well as establish a federal framework for overseeing digital-asset markets. If enacted, it would be the first comprehensive federal statute codifying crypto market structure, replacing reliance on regulatory guidance and litigation. It would also materially reshape compliance obligations for exchanges, stablecoin issuers, and DeFi platforms.
The lead-up to this point follows “months of serious bipartisan negotiations and real input from innovators, investors, and law enforcement,” Scott said. Those efforts, he added, were being made “to deliver clear rules of the road that protect consumers, strengthen our national security, and ensure the future of finance is built in the U.S.”
