Senate Bill on Crypto Regulation Gains 12-18 Democratic Votes in Key Update

U.S. Senate Banking Committee Chair Tim Scott has outlined an updated assessment of the political landscape surrounding the market structure bill, indicating that between 12 and 18 Democratic senators may support the legislation [1]. This estimate suggests that the bill could secure enough Democratic votes to pass in the Senate, given the requirement for at least 60 votes. Scott made the remarks during a speaking engagement at the SALT conference in Jackson Hole, Wyoming, where he also acknowledged the opposition from progressive lawmakers, including Sen. Elizabeth Warren [1].

The bill, which addresses how digital assets are regulated in the U.S., is still in the discussion draft phase. The Senate Banking Committee released a preliminary version in July, while the House has advanced its own Digital Asset Market Clarity Act. The Senate Agriculture Committee, which also has jurisdiction over parts of the bill, has yet to release any draft language [1]. Scott previously told former White House crypto adviser Bo Hines that he expects the Senate version to be finalized by the end of September [1].

Despite the uncertainty surrounding the bill’s final form, Scott emphasized that the proposed legislation will define how the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) oversee digital assets, including spot crypto markets [1]. The final bill will need to reconcile significant differences between the House and Senate versions before moving forward, a process that will require bipartisan negotiation and compromise.

Scott’s comments suggest a strategic approach to balancing the interests of lawmakers and market participants. While the potential for 12-18 Democratic votes represents a modest level of support, the final outcome will depend on how the bill evolves through the drafting and negotiation process. The end of September deadline adds urgency to the timeline, but achieving consensus on a complex and contentious issue will remain a challenge.

The bill’s outcome could have lasting implications for the regulatory framework governing digital assets in the U.S., particularly in areas such as trading rules, investor protections, and exchange oversight. With the legislative process in motion, stakeholders will closely follow developments as the Senate works toward finalizing the market structure legislation.

Source: [1] Senate Banking Chair Tim Scott: 12-18 Dems May Vote for Market Structure Bill (https://www.coindesk.com/policy/2025/08/19/senate-banking-chair-tim-scott-12-18-dems-may-vote-for-market-structure-bill)