Midterms, shutdown risks and negotiations: Can Congress pass a sweeping crypto bill in 2026?
Congress faces significant hurdles, including complex negotiations and looming midterms, to pass comprehensive crypto regulation by 2026.Summary
The next year is crucial for passing an all-encompassing cryptocurrency regulation bill, with advocacy sources estimating a 50% to 60% chance of success in 2026. Optimism stems from ongoing bipartisan discussions, though complex issues remain, such as allocating jurisdiction between the SEC and CFTC, defining 'ancillary assets,' and regulating yield-bearing stablecoins. Key sticking points include disagreements between banks and crypto advocates over stablecoin yield, concerns about the SEC having primary decision-making power over token classification (echoing the 'Gary Gensler route'), and potential conflicts of interest related to President Trump's family crypto ventures. Furthermore, the CFTC faces leadership instability with several commissioners departing, which complicates granting it broader jurisdiction. The legislative timeline is tight; progress, including Senate committee markups, must occur early in 2026 before lawmakers focus on midterm elections, and potential government funding lapses pose another risk of pausing legislative work.
(Source：The Block)