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The U.S. Senate Banking Committee has delayed markup hearings on crypto market structure legislation until early 2026. The decision ends hopes for a year-end markup that some lawmakers and industry groups had expected this week. A committee spokesperson confirmed the shift on Monday, saying negotiations are still underway.
The spokesperson said Chairman Tim Scott has focused on building a bipartisan bill. Talks with Democratic counterparts continue. The committee now expects a markup next year rather than in 2025. For the crypto sector, the delay extends a long wait for clear federal rules.
The committee said progress has been made, yet lawmakers want a bipartisan outcome. Scott’s office said the goal is a framework that gives regulatory clarity and supports the U.S. crypto industry. That process, they said, needs more time.
Some market participants had hoped for a markup before the holiday break. That did not happen. Congress now faces a packed agenda when it returns. Lawmakers must address government funding first. The current funding bill expires on Jan. 30. That deadline could push crypto policy lower on the priority list.
Midterm elections add pressure. All House seats and 33 Senate seats will be contested in 2026. Legislative calendars often tighten ahead of campaigns. That reality raises questions about how much time Congress will have for complex policy work early next year.
The proposed legislation seeks to define how U.S. regulators oversee crypto markets. It would clarify the roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission. Under the framework, the CFTC would act as the primary regulator for spot crypto markets.
The Senate Banking Committee oversees the SEC and has produced several drafts. The Senate Agriculture Committee oversees the CFTC and has released one discussion draft so far. Both committees would need to complete markups before the bill can move forward.
Democratic lawmakers have raised concerns around financial stability, market integrity, and ethics. These issues remain part of the ongoing talks. The committee has not shared a firm timeline beyond its early 2026 target.
The delay frustrated some observers. Crypto investor and researcher Paul Barron said the bill has stalled at the markup stage and warned that early 2026 could face similar risks. Others took a different view.
🔥UPDATE: As reported a week ago, the Market Structure Bill has fallen apart on the markup phase in the Senate – my sources were right. Early 2026 may also be in jeopardy as well. $BTC $ETH $XRP $SOL https://t.co/pecbego8V5
— PaulBarron (@paulbarron) December 15, 2025
Blockchain Association Chief Policy Officer Lindsay Fraser told CoinDesk that the delay reflects deep bipartisan engagement rather than fading interest. She said lawmakers are still working through key details to produce a durable market structure framework.
Markets moved lower during the news cycle. Crypto prices fell about 3.6% in late trading on Monday. Roughly $150 billion exited the market within hours. Bitcoin dropped from near $90,000 to just above $85,000 and has yet to recover, based on TradingView data.
For now, crypto market structure legislation remains unresolved. Lawmakers have set early 2026 as the next target for a markup, though the timeline will depend on congressional priorities, scheduling constraints, and the pace of bipartisan negotiations.
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