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- Senate committees aim to finalize the crypto market structure bill in December.
- Coinbase and industry leaders say clear rules are closer than ever.
- The bill could reach President Trump’s desk early next year if bipartisan support holds.
The long-anticipated overhaul of U.S. crypto market rules is gaining momentum in Washington, with Senate Banking Committee Chair Tim Scott signaling that lawmakers are preparing to advance a comprehensive market structure bill as soon as next month. The goal, Scott says, is to position the legislation for President Donald Trump’s signature early next year—potentially reshaping the nation’s digital asset landscape.
Scott Says Democrats Are Slowing Progress
In an interview with Fox Business, Scott said committee staff have been in active discussions with Democrats but suggested the minority party has slowed negotiations. Despite that friction, he remains confident that both the Banking Committee and the Agriculture Committee—each responsible for different areas of crypto oversight—can complete markups in December.
Scott framed the legislation as central to U.S. competitiveness, asserting that new federal rules could help establish America as “the crypto capital of the world.”
CLARITY Act Momentum and Industry Support
The Senate is developing its own version of the CLARITY Act, a House-passed bill that outlines how authority over crypto markets should be split between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Republicans on the Banking Committee released a discussion draft earlier this year, while the Agriculture Committee published its own draft in November—leaving several open items still subject to negotiation.
Coinbase CEO Brian Armstrong, who has been lobbying in Washington this week, said he believes lawmakers are close to finalizing language that could move to markup in December. Armstrong called the legislation a “milestone” that would finally give U.S. companies clear rules after years of regulatory uncertainty.
What Comes Next for the Legislation
If the Senate passes its version of the bill, the CLARITY Act will return to the House for final approval before heading to the president’s desk. However, despite Republicans holding 53 seats, the Senate’s 60-vote threshold means bipartisan support will be required.
Still, with industry leaders pushing aggressively and committees working overtime, December is shaping up to be the most active month for U.S. crypto regulation in years.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Cardano’s Charles Hoskinson Applauds Ripple After Key Senate Crypto Regulation Meeting
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