Lawmakers Prepare to Renew Efforts on Major Crypto Market Structure Bill: What’s Next for U.S. Digital Assets
Published Sunday, January 11, 2026, 8:17 AM EST
By Liz Napolitano
As the crypto industry continues to expand globally, U.S. lawmakers are gearing up to reignite legislative efforts on a comprehensive market structure bill that could shape the sector’s future within the country. After a year of stalled progress, key Senate committees plan to convene hearings this week to negotiate and refine the bill’s components, marking a critical juncture for digital asset regulation.
The Path Forward: Senate Agriculture and Banking Committees Take the Lead
On Thursday, the Senate’s Agriculture and Banking Committees will hold hearings focused on their respective portions of the proposed legislation, informally known as the Clarity Act. This legislation seeks to provide clearer rules and regulatory oversight for the multitrillion-dollar cryptocurrency market, offering much-needed legal certainty to exchanges, brokerages, developers, and investors alike.
Following these committee discussions, the two drafts will be merged into a single, comprehensive bill. This unified crypto market structure bill is expected to proceed to the Senate floor, where it will undergo further debate and potential amendments before a final vote. Lawmakers and industry advocates hope to secure passage ahead of the 2026 midterm elections to maintain momentum and ensure regulatory clarity under the current administration.
Objectives of the Clarity Act
The Clarity Act aims to:
- Define the roles and jurisdictions of key regulators, primarily the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC), in the oversight of cryptocurrencies.
- Establish clearer classifications for different types of tokens.
- Set out registration and compliance standards for crypto exchanges, brokerages, and related platforms.
By clarifying these aspects, the bill aspires to foster innovation and growth within the U.S. crypto sector while safeguarding investors and consumers. Summer Mersinger, CEO of the Blockchain Association, emphasized the significance of such legislation: “Without a market structure law, the recent resurgence of crypto companies returning to U.S. soil could fade, especially if there’s a shift toward a less crypto-friendly administration.”
Key Issues on the Table This Week
Lawmakers face several contentious topics as they work to finalize the bill:
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Stablecoin-Linked Rewards
Policymakers are grappling with how to handle rewards or interest tied to stablecoins, a category of digital tokens pegged to traditional currencies like the U.S. dollar. Both parties recognize the need for regulation in this space, especially following calls from the American Bankers Association’s Community Bankers Council to close loopholes exploited by some stablecoin offerings that provide yield-like incentives, which compete directly with traditional banking products. -
Decentralized Finance (DeFi) Platforms and Developers
The treatment of DeFi developers remains a delicate issue. Advocates urge that developers not be held criminally liable if their code is used for illicit activities such as money laundering. Amanda Tuminelli, Chief Legal Officer at the DeFi Education Fund, highlighted the importance of ensuring that the technology itself is not unduly burdened, and that individuals should retain the right to self-custody their crypto assets. Lawmakers are also considering provisions from the Blockchain Regulatory Certainty Act, proposed to exempt certain blockchain service providers from money transmission regulation if they do not hold customer funds. -
Public Officials’ Involvement in Crypto Ventures
Some in the Senate, including Senator Elizabeth Warren (D-Mass.), seek to prohibit elected officials from profiting off crypto-related initiatives while in office, aiming to prevent potential conflicts of interest. This remains a challenging issue to address, and while the House deferred it in prior legislation, the Senate seems intent on confronting it head-on.
Why the Timing Matters
According to Summer Mersinger, the current legislative session represents a pivotal "key window" to advance the bill. With other congressional priorities competing for attention, crypto supporters want to capitalize on momentum to push the legislation before potential political shifts after November’s elections. Passing a clear regulatory framework would provide stability and encourage further growth in the U.S. digital assets sector.
As these hearings unfold, stakeholders across the crypto ecosystem — from innovators to traditional financial institutions — are watching closely. The outcome could decisively influence the direction of crypto regulation, impacting markets, investment strategies, and the industry’s global competitive standing.
For ongoing coverage and detailed analysis of this developing story, stay tuned to CNBC.
Liz Napolitano reports on policy and markets. Follow her on Twitter @LizKNapolitano.