Crypto Market Bill Moves Closer as Senate Panels Plan December Vote

TLDR

• The Senate Banking and Agriculture Committees plan to mark up the crypto market bill in December.
• Senator Tim Scott confirmed formal votes on the bill are expected early next year.
• Scott blamed Democrats for previous delays in advancing the crypto market bill.
• A new bipartisan draft released on November 10 assigns regulatory authority to the CFTC.
• The latest version of the bill includes input from both parties to improve chances of passage.

The crypto market bill could see committee votes as early as December, following delays and extended discussions in the Senate. Senate Banking Committee Chair Tim Scott confirmed plans to begin the markup process in both the Banking and Agriculture panels. A full Senate vote could follow in early 2026, moving the legislation closer to final approval.

Crypto Market Bill Nears Senate Markup

Senator Tim Scott announced the Banking and Agriculture Committees will mark up the crypto market bill next month.

He criticized Democrats for the delay and said bipartisan discussions are now producing results.

“The dual-committee process has taken too long,” Scott stated while pointing to a clearer timeline for formal votes.

Both panels intend to hold separate sessions to mark up the crypto market bill during December.

This coordinated markup strategy aims to build consensus before advancing the bill to the Senate floor.

Scott emphasized that a final version is almost ready and that lawmakers will not delay any longer.

Bipartisan Draft Released as Senate Seeks Compromise

On November 10, the Senate shared a new draft of the crypto market bill outlining the CFTC’s oversight of digital commodities.

This version reflects bipartisan input to improve chances of success in both chambers of Congress.

Lawmakers focused on refining legal definitions and reducing partisan differences to speed up the process.

Earlier versions leaned more Republican but lacked Democratic support to advance to the Senate floor.

The updated crypto market bill aims to bridge those gaps and secure support from both sides.

Scott previously set a September deadline but did not meet it due to Democratic resistance, according to his statement.

Armstrong and Boozman See Progress Toward Passage

Coinbase CEO Brian Armstrong said Congress made “a lot of progress” on the crypto market bill this year.

He believes the Senate could vote on the final version by the end of December if the markup proceeds as expected.

Senator John Boozman also confirmed Agriculture Committee plans to review the bill in early December.

He described a sense of urgency among members to finalize the crypto market bill and avoid further delay.

“This reflects a bipartisan urgency,” Boozman told Bloomberg regarding the need for clearer crypto rules.

The House passed the CLARITY Act earlier this year, prompting the Senate to revise its companion legislation.

Lawmakers are focused on defining which digital assets are outside securities laws.

This classification will impact how the CFTC and SEC handle crypto enforcement moving forward.

As it stands, the crypto market bill appears set for dual-committee votes in December.

Senator Scott remains confident that formal Senate action will follow early next year.

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