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U.S. lawmakers are pressing ahead with a major crypto market structure vote as the Senate Banking Committee prepares to act on January 15. The move comes despite unresolved bipartisan support. Chairman Tim Scott confirmed the schedule after months of closed-door drafting and review.
The bill aims to redefine how digital assets fall under federal law. It would clarify oversight for exchanges, decentralized platforms, and token issuers. Bitcoin, Ethereum, and broader altcoin markets could face clearer regulatory boundaries if the measure advances.
Scott said the committee reached a point where formal action outweighed further negotiation. He confirmed the markup date during a public interview. Still, the vote count remains uncertain across party lines.
Scott said committee members reviewed multiple draft versions over more than six months. According to people familiar with the process, both Democratic and Republican offices participated in these discussions, focusing on the narrowing gaps before a formal vote.
Senator Catherine Cortez Masto described the negotiations as productive. Even so, unresolved ethical concerns remain on the table, which could continue to complicate final alignment within the committee.
As of Tuesday, insiders said the bill lacked confirmed support from either party. Progress continued behind the scenes; the level of momentum remained difficult to measure as the vote approached.
The draft legislation would divide regulatory authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission. It also introduces the term ‘ancillary assets’, which aims to sort out the cryptocurrencies falling outside securities law.
Lawmakers have debated how decentralized finance should fit within federal rules. They have also discussed addressing President Donald Trump’s potential conflict of interest related to crypto holdings. These issues have slowed down consensus throughout 2025.
Earlier expectations pointed to a markup before the end of last year. That deadline passed without action. Senate aides now warn that delays beyond January could sharply reduce the bill’s prospects.
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If the Senate does not advance the bill by April, its path to becoming a law in 2026 narrows. The November 2026 midterm elections loom large; some lawmakers may choose to pause legislative action until after the vote.
The House already passed its version, known as the Digital Asset Market Clarity Act, in July 2025. That measure received strong bipartisan backing. House leaders now wait for the Senate to move so both chambers can reconcile differences.
Industry advocates estimate the bill’s chances of becoming law at between 50% and 60%. If enacted, it would mark the second major crypto statute after the GENIUS Act was signed into law in July 2025.
The Senate Banking Committee has scheduled a January 15 vote on the crypto market structure bill despite uncertain bipartisan support. The proposal seeks to clarify digital asset regulation and agency oversight. Lawmakers now face a narrow window to advance the bill before election timelines reduce its chances.
