Senate Committees Prepare to Advance Crypto Market Structure Bill Amid Bipartisan Tensions

The U.S. Senate Agriculture Committee is planning to hold a markup hearing and vote next Thursday to advance long-awaited crypto market structure legislation, according to a report from Punchbowl News. If the plan proceeds, the Agriculture Committee would join the Senate Banking Committee, which has also been working toward moving similar legislation that would define how digital assets are regulated in the United States.

While neither committee has formally announced its hearing, Senate Banking Committee Chair Tim Scott has publicly stated that he is targeting January 15, 2026, for a banking panel hearing. Both committees have previously released discussion drafts addressing regulatory oversight of the crypto sector, specifically outlining the roles of the Commodity Futures Trading Commission and the Securities and Exchange Commission. Because the Agriculture Committee oversees the CFTC and the Banking Committee has jurisdiction over the SEC, both panels must advance identical legislation before it can be brought to a full Senate vote.

As of now, no updated legislative text has been released ahead of the expected markup. Lawmakers on the Banking Committee met earlier this week to discuss the bill, and a follow-up document highlighted several requests from Democratic members, along with notes indicating which proposals had been accepted. The document also outlined unresolved issues, including ethics concerns related to President Donald Trump’s family and their reported ties to crypto businesses. These concerns previously threatened the progress of the stablecoin-focused GENIUS Act, and Democrats continue to push for guardrails, which the White House has rejected, according to Senator Cynthia Lummis.

Under Senate rules, committees are expected to post legislative language by Friday ahead of a Thursday markup, but insiders doubt revised drafts will be ready in time. This could force lawmakers to rely on older bill language while staff continue negotiations under mounting political pressure to move quickly on crypto regulation. Some lobbyists have questioned whether pushing forward without Democratic consensus could undermine the goal of passing a bipartisan crypto bill.

The negotiations have also drawn increased attention from traditional finance lobbyists, particularly on issues like stablecoin yield and protections for software developers. Their involvement has influenced some Democrats, who see potential risks to the existing financial system from digital assets. As the markup approaches, the outcome could shape the future of U.S. crypto regulation and signal how bipartisan cooperation will evolve in Congress.