Senate Banking Committee to Consider Digital Asset Bill in January

According to Cointelegraph, members of the U.S. Senate Banking Committee are anticipated to advance the consideration of a digital asset market structure bill in the second week of January, following prolonged delays. Reports and insights from individuals familiar with the situation suggest that the Banking Committee may conduct a markup session for the Responsible Financial Innovation Act during this period. This development signifies progress in legislative efforts that have been hindered by Democratic lawmakers' apprehensions regarding decentralized finance and the longest government shutdown in U.S. history. Cody Carbone, CEO of The Digital Chamber, a digital asset advocacy organization, informed Cointelegraph that the Senate is expected to hold at least one markup on pending market structure legislation in January. Concurrently, the U.S. Senate Agriculture Committee is reviewing its version of the market structure bill before any potential floor vote in the chamber. The market structure bill, which was approved by the U.S. House of Representatives in July as the Digital Asset Market Clarity Act (CLARITY), aims to enhance the Commodity Futures Trading Commission's (CFTC) authority in regulating digital assets. Initial drafts of the Senate bill indicated increased collaboration between the CFTC and the Securities and Exchange Commission (SEC) concerning cryptocurrency regulation. The fate of the legislation in the Senate remains uncertain, as it is unclear whether it will garner sufficient support for passage if presented for a floor vote. Republican Senator Thom Tillis expressed in October that the commencement of campaigning for the 2026 midterm elections could potentially impede progress on crypto-related bills, including the market structure legislation. In addition to political challenges, Wyoming Senator Cynthia Lummis, a prominent advocate for the market structure bill, announced on December 19 that she would not seek reelection in 2026. Having served one term in the Senate, Lummis cited a mismatch between her energy levels and the demands of serving another six-year term. Despite her decision, she continues to advocate for the bill's support.