Catenaa, Wednesday, November 19, 2025- US Senate Banking Committee Chair Tim Scott said Tuesday he plans to hold committee votes on the crypto market structure bill next month, aiming for Senate floor consideration in early 2026 and eventual signature by former President Donald Trump.
The legislation would clarify oversight of digital assets, assigning regulatory roles to the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Scott said the bill seeks to protect consumers and bolster US leadership in global financial markets.
He previously attempted to advance the legislation by September but said Democrats stalled progress. The bill requires approval from both Senate Banking and Agriculture committees because it covers securities and commodities regulations.
The Senate proposal follows the House-passed CLARITY Act.
Republicans intend to create a definition for “ancillary assets,” clarifying which cryptocurrencies are not securities. Democratic support will be necessary for passage.
A draft proposal from Senate Democrats focusing on decentralized finance was recently leaked. It would require Treasury and other regulators to determine when individuals or entities exercise sufficient control over financial networks. Critics in the crypto industry warned it could restrict decentralized finance activity.
Following the leak, both parties met with industry leaders to discuss concerns. Kristin Smith, president of the Solana Policy Institute, said some Democratic senators are committed to advancing legislation. Ongoing discussions signal potential bipartisan compromise as lawmakers seek to regulate digital assets while fostering innovation.
Observers say that the timing positions the bill for Senate floor debate early next year, with both parties engaging in negotiations to shape rules for the growing cryptocurrency market.
