January Showdown as Digital Asset Market Structure Bill Set
A bill that will establish a digital asset market structure is again slated for the US Senate after months of uncertainty.
As per reports and those familiar with the matter, members of the Senate Banking Committee are likely to begin formal consideration of crypto market structure legislation in the second week of January. If it takes place as planned, this markup will be the furthest Congress has gone on the bill, which has faced delays over partisan squabbling, concerns regarding decentralized finance (DeFi), and, most importantly, the longest U.S. government shutdown in history.
For the crypto field, January will either be its opportunity for progress or yet another crucial moment gone wrong.
Long-Stalled Crypto Legislation Could be Unlocked by a Markup
A markup for the Responsible Financial Innovation Act is on the cards at the Senate Banking Committee. It is notable legislation that will seek to put US digital asset rules into a coherent framework.
The CEO at digital asset advocacy group The Digital Chamber, Cody Carbone, confirmed momentum is building.
“In the Senate, market structure legislation still pending will have at least one markup during the week of January 9,” Carbone said.
Simultaneously, the Senate Agriculture Committee is working on its own digital asset market structure bill, laying the groundwork for parallel activity ahead of any scheduled Senate floor vote.
Also Read : Federal Reserve Scraps Restrictive Crypto Guidance, Opening a New Chapter for US Banks
Significance of the Digital Asset Market Structure Bill
At the Center of the Debate: CFTC and SEC Roles
The law has a close association with the Digital Asset Market Clarity Act (CLARITY), which the US House of Representatives ratified in July. The legislation sought to enhance the power of the Commodity Futures Trading Commission (CFTC) over digital assets (specifically commodities such as Bitcoin) while changing the way the SEC views crypto.
Early versions of Senate bill texts have proposed a regulatory process where the CFTC and SEC work together instead of competing. For crypto businesses, this could mean clearer rules and fewer surprises for enforcement.
The Senate version still faces political headwinds.
Obstacles in the Way of Trade and Industrialisation
Pressure of Election Season and Less Senate Support
The Senate’s digital asset market structure bill has re-emerged, but it is unclear if there are enough votes to survive a full floor vote.
The 2026 midterm elections campaigning has already started, according to Republican Senator Thom Tillis. This early start could slow down or derail progress on complex legislation, including the crypto bills that need bipartisan support.
Unfortunately for supporters, one of the biggest advocates is leaving Congress.
Lummis Exit Increases Stakes
A Major Crypto Ally Is Coming to the End of Her Run
Wyoming Senator Cynthia Lummis, one of the biggest champions of crypto-friendly regulation, announced that she would not run for reelection in 2026.
Lummis noted she no longer has the personal energy for another six-year term. However, she stressed that she is still focused on passing the digital asset market structure bill.
Her exit creates urgency for the legislative effort, and it is questioned whether the measure can stay on course without one of its strongest advocates.
January May Prove Significant or Not
For the US crypto industry, January means more than just a committee meeting. It’s a test of whether Washington is ready to move beyond enforcement by lawsuit and toward a durable regulatory scheme.
The US digital assets market structure bill has progressed, and this could change how the assets are regulated for years to come. Should it be delayed yet again, the sector may remain in a regulatory fog — even as overseas rivals move rapidly to lure the sector’s innovation.
It’s now clear that time is running short, and January might be the Senate’s best and possibly last opportunity to achieve real change for the crypto market before politics intervenes.
