Cryptocurrency Market Structure Bill Faces Markup Vote Next Week as DeFi and Stablecoin Issues Remain Unresolved

The U.S. Senate Banking Committee is set to hold a markup vote on the cryptocurrency market structure bill by January 15, 2026, as confirmed by Senator John Kennedy. The bill aims to clarify regulatory oversight between the SEC and CFTC for crypto markets. Despite bipartisan efforts, unresolved issues such as DeFi regulation remain significant hurdles for the bill.

The markup process is a critical step in the bill's legislative journey, which began with the House passing its version, the Digital Asset Market Clarity Act, in July 2025. According to reports, if the Senate Banking Committee approves the bill, it will need to be reconciled with the House version before reaching President Trump for potential signing.

Industry representatives have been actively involved in the discussions and are scheduled to meet with Senate offices to address outstanding issues. Executives from Binance.US, Unicoin, and other major crypto firms are expected to participate in these meetings.

Why Did This Happen?

The push for regulatory clarity has been a top priority for the crypto industry, which has long sought a unified legislative framework to define market structure and oversight. The Senate Banking Committee's accelerated timeline reflects the urgency to finalize the bill before the January 30 government funding deadline, which could lead to another shutdown.

Senator Tim Scott, the committee chair, has emphasized the importance of moving forward despite unresolved issues. He stated that a vote is necessary to establish a clear stance on crypto regulation.

How Did Markets React?

The crypto market has responded positively to the progress, with increased trading volumes and investor interest. The bill's potential impact on market structure and regulatory oversight is seen as a significant factor in boosting institutional participation.

The House's Digital Asset Market Clarity Act, which was passed with strong bipartisan support, has also contributed to market optimism. Investors are watching to see if the Senate version will include similar provisions.

What Are Analysts Watching Next?

Crypto industry leaders and legal experts are closely monitoring the resolution of key issues such as DeFi regulation and stablecoin yield. These topics remain contentious, with concerns over anti-money laundering requirements and regulatory jurisdiction.

Analysts also highlight the importance of resolving ethics concerns, particularly those related to President Trump's crypto ventures. These include conflicts of interest involving World Liberty Financial.

The upcoming markup vote is seen as a critical test for the bill's viability. If passed, it will move to the Senate for a full vote before being reconciled with the House version. Failure to reach a consensus could delay the bill until 2027.

The bill's success will depend on the ability of lawmakers to address industry concerns while maintaining bipartisan support. The outcome will have significant implications for the regulatory landscape of the crypto market.