Crypto market structure bill stalls as Senate banking committee pushes vote to 2026 - here's what's happening

Core Viewpoint - The US Senate Banking Committee has decided to delay action on the crypto market structure bill, pushing any markup hearings to early 2026, which is disappointing for the crypto industry that was hoping for progress this year [1][2][14]. Legislative Progress - Bipartisan discussions are ongoing under Chairman Tim Scott, who has emphasized the need for a strong bipartisan product to provide clarity for the digital asset industry [3][14]. - The proposed market structure bill aims to clarify the roles of federal regulators, specifically designating the Commodity Futures Trading Commission (CFTC) as the primary regulator for spot crypto markets and defining how securities laws apply to digital assets [6][14]. Regulatory Engagement - Despite the legislative delay, regulators like the SEC and CFTC are actively engaging with the crypto industry, with the SEC releasing staff statements and holding discussions on the application of existing securities laws [10][15]. - The CFTC has started allowing licensed institutions to participate in spot crypto trading and has granted no-action relief to certain prediction market operators [10][15]. Industry Concerns - Democratic lawmakers have raised issues regarding financial stability, market integrity, and ethics, particularly concerning President Trump's family's crypto-related business ventures [9][15].