A spokesperson says negotiations are ongoing, aiming for a bipartisan product that brings clarity to the digital asset industry and positions America as a crypto hub.

The bill would establish a comprehensive federal framework for token classification, exchanges, brokers, and custody services, moving toward formal asset classification rules rather than enforcement-only approaches.

Chairman Tim Scott and the committee are pushing bipartisan efforts to finalize digital asset market structure legislation that clarifies oversight by the SEC and CFTC, with the CFTC designated as the primary spot market regulator.

There are still ambiguities on areas like interest or yield payments on stablecoins and overall regulatory approach, contributing to the delay toward 2026.

Context notes mention anticipated markup next week and potential delays due to political dynamics.

Negotiations span the Senate Banking and Senate Agriculture committees with multiple drafts and markups planned for 2026 as Congress returns from recess and faces funding deadlines.

Investors and industry players express disappointment, anticipating delayed regulatory progress through 2025 and potential further delays due to the 2026 midterms.

Outside Congress, regulators move ahead: the CFTC expands access for licensed institutions to spot trading, while the SEC and other agencies issue guidance and actions shaping oversight.

The Senate Banking Committee postponed crypto market structure markup hearings until early 2026 despite ongoing bipartisan negotiations.

Lawmakers contend that patience could yield more durable bipartisan outcomes and reduce the risk of reversals in policy.

Market impact has been limited price-wise, but regulatory uncertainty persists with potential state-level rules in the absence of federal law and ongoing enforcement actions.

The broader reform is deferred to 2026 amid competing political priorities and year-end fiscal pressures, not a collapse of negotiations.