The U.S. Senate has officially announced that discussions regarding the crypto market structure bill will be deferred until next year. This decision comes despite expectations that the legislation might be finalized prior to 2026.
According to sources, the Senate Banking Committee has confirmed there will be no hearing on the crypto market structure bill before the year ends, effectively pushing its consideration to 2026. This has dashed hopes among senators who anticipated a resolution in the final days before the holiday season.
A committee source indicated that negotiations between Chairman Tim Scott and Democratic members are progressing positively. Earlier this month, Chairman Scott expressed optimism by suggesting the committee might consider a markup of the bill on December 17 or 18.
While the delay was somewhat anticipated, there was a prevailing hope that even the introduction of a markup would signify movement after years of regulatory uncertainty. The situation is particularly pressing on Capitol Hill, as the Congress will prioritize preventing a federal government shutdown upon returning from holiday recess. The current funding legislation is set to expire on January 30.
As discussions potentially resume, lawmakers face a critical time constraint. With midterm elections on the horizon, the likelihood of passing significant legislation may diminish as the focus shifts to electoral campaigns.
The crypto market structure bill is vital as it aims to establish a framework for federal oversight of digital assets. It intends to clarify the roles of the SEC and CFTC, designating the CFTC as the primary regulator for spot crypto markets while elucidating the applicability of securities laws.
The Senate Banking Committee has distributed several drafts of the bill, while the Senate Agriculture Committee has also presented a discussion draft. The latter still needs to conduct its markup session for the legislation.
Despite the delay, Senate leadership assures that the effort is far from terminated. Committee officials have reiterated that Chairman Scott has emphasized the necessity for a bipartisan approach to this bill. Ongoing discussions are expected to yield announcements and updates in early 2026, although no specific date has been set for this event.
In the meantime, the SEC continues to issue guidelines and engage in public dialogues regarding the existing laws that govern various crypto transactions.
