Chairman Tim Scott postpones vote on cryptocurrency bill
The US Senate Banking Committee, led by Chairman Tim Scott, has postponed the markup of a crypto market structure bill that was scheduled for Thursday.
- The Senate Banking Committee postponed its planned markup of a crypto market structure bill without a new date.
- The latest delay follows a similar move by the Senate Agriculture Committee in postponing the CLARITY Act.
“I’ve spoken with leaders across the crypto industry, the financial sector, and my Democratic and Republican colleagues, and everyone remains at the table working in good faith,” Scott said in a Wednesday statement on X.
In the meantime, the committee will continue bipartisan negotiations to build broader support.
“This market structure bill reflects months of serious bipartisan negotiations and real input from innovators, investors, and law enforcement,” Scott said, adding that the ultimate goal is to “deliver clear rules of the road that protect consumers.”
As of publication, the committee has not announced a new date for the markup.
A markup is a key step in the legislative process during which committees debate a bill line by line and propose amendments if required before voting on whether to advance it to the full Senate.
The highly anticipated bill under consideration would determine how the Securities and Exchange Commission and the Commodity Futures Trading Commission regulate the digital asset market.
Crypto legislations stall amid industry backlash
Previously, the House passed a version of the bill known as the CLARITY Act in mid-2025, but under congressional procedure, both the Senate Banking and Agriculture Committees would have to approve the legislation for it to move forward.
On Jan. 13, the Senate Agriculture Committee also delayed its markup of the bill, which was scheduled for the same Thursday.
As previously covered on crypto.news, Committee Chair John Boozman said at the time that more time is needed to secure enough votes before moving forward.
Meanwhile, crypto market participants remain cautious as a section of the bill proposes strict limitations on stablecoin yield offerings, which have emerged as a major point of contention.
Most notably, Coinbase, a key industry player and a major crypto lobbyist, has threatened to withdraw support from the Senate version of the bill after raising concerns over how the provisions would negatively impact its stablecoin business.
