Tim Scott
Senate judiciary leaders challenge crypto bill's jurisdiction
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Senate Judiciary Committee leaders Chuck Grassley and Dick Durbin have raised concerns about a provision in a cryptocurrency market structure bill led by Senate Banking Chair Tim Scott, arguing it encroaches on their committee's jurisdiction. The dispute centers on exemptions for crypto software developers, which they say could hinder law enforcement efforts against money laundering. The bill's markup has been postponed amid this opposition and industry pushback.
The U.S. Senate Banking Committee is set to mark up the Digital Asset Market Clarity Act of 2025 on January 15, 2026, aiming to establish a federal framework for digital assets. The bill would divide regulatory oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Controversy surrounds provisions related to decentralized finance, with advocacy groups launching ads to oppose them.
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U.S. senators from both parties met on January 6, 2026, to restart negotiations on a bill establishing a regulatory framework for cryptocurrencies, amid mounting pressures from a looming government shutdown deadline. Republicans presented a 'closing offer' to Democrats, proposing over 30 revisions, as Senate Banking Committee Chairman Tim Scott plans a markup on January 15. Key sticking points include ethics standards and limits on crypto yields competing with traditional banks.