The US Senate Banking Committee has postponed markup hearings on crypto market structure legislation until early 2026, despite earlier hopes for a session this week. A spokesperson for Committee chair Tim Scott confirmed the committee will not hold a market structure markup in 2025.
“Chairman Scott and the Senate Banking Committee have made strong progress with Democratic counterparts on bipartisan digital asset market structure legislation,” the spokesperson said, adding that Scott has pushed for a bipartisan outcome to provide clarity for the digital asset industry and position the U.S. as a crypto leader. “The Committee is continuing to negotiate and looks forward to a markup in early 2026.”
The delay disappointed some industry observers who expected more regulatory movement in 2025. Crypto investor and researcher Paul Barron warned the Market Structure Bill “has fallen apart on the markup phase in the Senate … Early 2026 may also be in jeopardy as well.”
The legislation aims to clarify oversight responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission, designating the CFTC as the primary regulator for spot crypto markets under the current draft.
Further delays are possible because 2026 is a midterm election year, when all House seats and 33 Senate seats will be contested—an environment that can complicate bipartisan legislation. Additionally, when Congress returns from its holiday recess it will need to address federal funding; the current funding bill expires Jan. 30, which could push crypto markup hearings down the priority list.
Crypto markets reacted to the uncertainty: spot markets fell about 3.6% on Monday, with roughly $150 billion leaving the sector in hours. Bitcoin dropped nearly $5,000, sliding from just under $90,000 to about $85,000 and had not recovered by the end of trading.
