Senate Banking Committee Delays Crypto Market-Structure Bill to Early 2026
On December 15, 2025, the Senate Banking Committee announced it will postpone the markup hearings on the crypto market-structure bill until early 2026, delaying progress on new legislation aimed at regulating the crypto sector.
A committee spokesman stated that Chairman Tim Scott and Democrats are negotiating with bipartisan progress, planning a markup session in early 2026. The proposed bill intends to define the roles of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in crypto oversight, designate the CFTC as the primary regulator for spot crypto markets, and clarify how existing securities laws apply to cryptocurrencies.
Meanwhile, the Senate Agriculture Committee has produced a separate discussion draft and will need to conduct its own markup, underscoring the complexity and cross-committee nature of the legislative process.
Democrats have cited sticking points in negotiations related to financial stability, market integrity, and ethical concerns associated with President Trump and his family’s involvement in crypto-linked businesses.
Despite the delay in legislation, regulatory activities continue: SEC staff have held statements and roundtables discussing enforcement of securities laws for crypto, while the CFTC has allowed certain licensed institutions to engage in spot crypto trading and issued no-action relief to prediction-market operators regarding data requirements.
The legislative timeline remains constrained by Congress’s funding schedule, with the current government funding bill set to expire on January 30, 2026, limiting the window to advance the crypto market-structure legislation before the 2026 midterm elections.
