U.S. Senate Banking Committee Nears Markup on Crypto Market Structure Bill Amid Ongoing Disputes
Senators approach a January markup on bipartisan crypto regulation, with key disagreements over DeFi, stablecoin yields, ethics rules, and Treasury oversight still unresolved.
The U.S. Senate Banking Committee, led by Chairman Tim Scott, is preparing to mark up its crypto market structure bill on January 15, 2026, after months of negotiations. A leaked document shows many Democratic requests have been incorporated, including provisions on illicit finance aligned with Treasury Department input. Remaining disputes involve DeFi regulation, treatment of stablecoin yields, ethics standards for senior officials in light of President Donald Trump's industry ties, and the role of Treasury in oversight. The House passed a similar Digital Asset Market Clarity Act last year, but the Senate bill must also navigate the Agriculture Committee’s jurisdiction before reconciliation. Crypto industry figures, including executives from Binance.US, Anchorage Digital, and Hedera, are lobbying senators this week to advance the legislation despite unresolved issues.
- Market Structure Bill: Legislation proposing regulatory frameworks for the organization, trading, and oversight of cryptocurrency markets.
- Decentralized Finance (DeFi): A blockchain-based financial system enabling peer-to-peer transactions without intermediaries, often using smart contracts for lending, trading, and other functions.
- Stablecoin: A cryptocurrency pegged to a stable asset, such as fiat currency, designed to reduce volatility and maintain consistent value.