The U.S. Senate Banking Committee has pushed back its plans to review crypto market structure legislation until early 2026, leaving the industry in a prolonged state of uncertainty.
Originally expected this year, the markup won’t happen in 2025, the committee confirmed after bipartisan talks. Lawmakers are wrapping up a short legislative week before heading out for the holiday recess, and there’s simply no time to finalize the bill before year-end.
The delay leaves key questions unresolved, including how regulatory authority will be split between the SEC and CFTC over spot markets and digital asset securities. Without clear guidance, crypto firms may hesitate to launch new products, expand operations, or innovate, waiting for rules that define the future of U.S. digital assets.
Industry insiders had been watching for a draft of the bill, which has been under bipartisan development for nearly two months. The draft would provide insight into how lawmakers plan to divide oversight, define exchanges, and regulate token issuers. But with the draft not yet released, that clarity remains out of reach.
Meanwhile, the Senate Agriculture Committee, which is also working on crypto legislation, hasn’t scheduled its markup either, meaning further delays are likely. The lack of coordination between the two committees reduces the chance of any major crypto legislation passing in 2025.
Lawmakers are expected to pick up discussions early next year, assuming bipartisan momentum continues after the congressional recess. Until then, the crypto sector faces extended uncertainty about the rules that will govern trading, brokers, and token issuance in the U.S.
