- Senate Banking Chair Tim Scott plans committee votes on a crypto market structure bill by December 2025.
- The bill defines oversight roles for the SEC and CFTC and introduces a new category called “ancillary assets.”
- A leaked Democratic proposal on DeFi regulation drew backlash over concerns it could restrict decentralized platforms.
Senate Banking Committee Chair Tim Scott confirmed that lawmakers plan to vote on key crypto legislation this coming month. According to a report by the Block, the bill aims to establish an open regulatory approach for digital assets in the United States. The Senate Banking and Agriculture Committees’ overlapping power over securities and commodities means that the bill needs approval from both committees. Scott mentioned that the plan is to present the bill to the Senate for final approval in early 2026.
Timeline and Legislative Path Forward
Scott explained that committee votes are scheduled for December. He said the legislation would then move to the full Senate. According to Scott, the target is for President Trump to sign the bill once it reaches the White House. He shared these updates during an interview on Fox Business’s Mornings with Maria on Tuesday.
The legislative process has faced delays throughout 2025. Scott previously attempted to push the bill through by September but failed. He attributed the holdup to Democratic members, who he said stalled negotiations. He said the bill would help the United States maintain global economic leadership while protecting consumers in digital asset markets.
Jurisdiction Between Agencies
The crypto market structure bill aims to divide responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission. A central feature of the bill introduces a new classification called “ancillary assets.” This term would help determine which cryptocurrencies are not classified as securities. The Senate’s proposal follows the House-passed CLARITY Act, which laid out a similar framework earlier this year.
The Republican legislators, part of the Banking Committee, are at the lead of the ambition. However, the support of both sides is still required. The bill cannot go forward to the Senate floor without the support of the Democrats. While negotiations are going on, representatives from both parties are creating their individual proposals.
Democrats’ Proposal and Industry Response
A leaked draft from Senate Democrats added a new layer of controversy. The six-page document focused on regulating decentralized finance (DeFi). It would give the Treasury Department authority to define when a person or group holds “control or sufficient influence” in a protocol. Industry stakeholders responded critically, warning that the proposal could threaten DeFi operations.
The bill’s final version remains under negotiation. Both committees must align on definitions and enforcement strategies before it moves forward. Scott stated that he remains focused on ensuring the bill reaches a floor vote early next year. The Senate continues work on final language ahead of the expected December committee votes.
Senate Banking Chair Tim Scott plans committee votes on a crypto market structure bill by December 2025.
The bill defines oversight roles for the SEC and CFTC and introduces a new category called “ancillary assets.”
A leaked Democratic proposal on DeFi regulation drew backlash over concerns it could restrict decentralized platforms.
Senate Banking Committee Chair Tim Scott confirmed that lawmakers plan to vote on key crypto legislation this coming month. According to a report by the Block, the bill aims to establish an open regulatory approach for digital assets in the United States. The Senate Banking and Agriculture Committees’ overlapping power over securities and commodities means that the bill needs approval from both committees. Scott mentioned that the plan is to present the bill to the Senate for final approval in early 2026.
Timeline and Legislative Path Forward
Scott explained that committee votes are scheduled for December. He said the legislation would then move to the full Senate. According to Scott, the target is for President Trump to sign the bill once it reaches the White House. He shared these updates during an interview on Fox Business’s Mornings with Maria on Tuesday.
The legislative process has faced delays throughout 2025. Scott previously attempted to push the bill through by September but failed. He attributed the holdup to Democratic members, who he said stalled negotiations. He said the bill would help the United States maintain global economic leadership while protecting consumers in digital asset markets.
Jurisdiction Between Agencies
The crypto market structure bill aims to divide responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission. A central feature of the bill introduces a new classification called “ancillary assets.” This term would help determine which cryptocurrencies are not classified as securities. The Senate’s proposal follows the House-passed CLARITY Act, which laid out a similar framework earlier this year.
The Republican legislators, part of the Banking Committee, are at the lead of the ambition. However, the support of both sides is still required. The bill cannot go forward to the Senate floor without the support of the Democrats. While negotiations are going on, representatives from both parties are creating their individual proposals.
Democrats’ Proposal and Industry Response
A leaked draft from Senate Democrats added a new layer of controversy. The six-page document focused on regulating decentralized finance (DeFi). It would give the Treasury Department authority to define when a person or group holds “control or sufficient influence” in a protocol. Industry stakeholders responded critically, warning that the proposal could threaten DeFi operations.
The bill’s final version remains under negotiation. Both committees must align on definitions and enforcement strategies before it moves forward. Scott stated that he remains focused on ensuring the bill reaches a floor vote early next year. The Senate continues work on final language ahead of the expected December committee votes. Read MoreNews, Market News, NewsNow, Regulation News, Crypto bill, Crypto market, cryptocurrency, USA Senate Cryptonewsland – Your Daily Crypto News
