Senate Committees Set Jan. 15 Hearings to Vote on Sweeping Crypto Market Structure Legislation

Two key U.S. Senate committees will hold markup hearings on January 15 to advance sweeping cryptocurrency market structure legislation, a pivotal step for the industry seeking regulatory clarity according to reports. The Senate Banking Committee, led by Chair Tim Scott (R-S.C.), and the Senate Agriculture Committee are set to vote on versions of the bill, each with distinct approaches to allocating oversight responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) as reported. This follows months of stalled negotiations, with the bill now facing a make-or-break moment ahead of a potential Senate floor vote according to analysis.

The Senate Banking Committee's version of the bill introduces a new term for "ancillary assets," aiming to clarify which cryptocurrencies are not subject to SEC regulation as detailed. In contrast, the Senate Agriculture Committee's draft grants expanded authority to the CFTC but leaves key provisions unresolved according to the draft. If both committees pass their versions, they will be reconciled before advancing to the full Senate. The House version, known as the Digital Asset Market Clarity Act, already passed in July 2025 according to reports.

Unresolved issues in the Senate bill include stablecoin yield provisions, ethics rules to address conflicts of interest, and protections for decentralized finance (DeFi) platforms as noted. Senate Democrats have pushed for bipartisan quorum requirements at federal regulators, while Republicans resist according to the vote. With the 2026 midterm elections approaching, lawmakers face pressure to finalize the bill, though concerns persist about rushing a complex and contentious piece of legislation as analysis shows.