Sweeping crypto bill heads for Senate Banking Committee hearing amid murky path forward
A comprehensive bill to regulate the crypto industry is advancing to a Senate Banking Committee hearing this month despite uncertain bipartisan support.Summary
A sweeping bill aimed at regulating the cryptocurrency industry is moving forward, with Senate Banking Committee Chair Tim Scott planning a markup hearing this month, potentially by January 15, regardless of bipartisan consensus. The draft legislation seeks to define jurisdiction between the SEC and CFTC and create a new term for "ancillary assets" to clarify which cryptos are not securities. However, achieving sufficient votes remains uncertain, with sticking points including regulating decentralized finance (DeFi) and addressing potential conflicts of interest related to President Trump's crypto ventures. There is also a parallel bill from the Senate Agriculture Committee, which oversees the CFTC, meaning the two versions will eventually need reconciliation. Experts suggest that completing the markups before a potential government funding lapse in late January 2026 is critical to maintain momentum.
(Source：The Block)