Senate Sets December Vote for Crypto Market Structure Bill

• Senate committees to vote on crypto market bill next month, advancing regulation.
• CLARITY/Responsible Financial Innovation Act aims to clarify SEC and CFTC roles.
• Final passage unlikely until 2026 due to delays, including the 43-day government shutdown.

The long-awaited U.S. crypto market structure overhaul is moving again in Washington. The Senate Banking and Agriculture committees are preparing to hold markups and votes early next month. 

Senate Banking Chairman Tim Scott confirmed the timeline, with additional details shared by crypto correspondent Eleanor Terrett on X. With the legislation set to reach the Senate floor early next year, a final passage remains unlikely before 2026.

CLARITY Act and Responsible Financial Innovation Act Move Closer to Senate Action

Terrett clarified that the CLARITY Act and the crypto market structure bill are essentially the same legislation, despite different names in the two chambers. The House passed its version in July, while the Senate has spent months crafting its own framework, officially titled the Responsible Financial Innovation Act.

The Senate Agriculture Committee is refining the CFTC-related components, while the Banking Committee is responsible for the SEC and illicit finance provisions. Agriculture released a bipartisan discussion draft last week. Banking, which had previously produced GOP-led drafts, will release its first bipartisan version soon.

Once both committees finalize their versions, they will merge them into a single legislative package. Chairman Scott intends to bring that unified text to the Senate floor early next year.

Why Final Passage Likely Won’t Happen Until 2026

While momentum is building, Terrett noted that a full congressional passage is not expected until 2026. One major factor was the 43-day government shutdown, which significantly delayed committee work and legislative drafting.

After a Senate vote, the bill must return to the House for final approval before heading to President Trump’s desk.

Senator Tim Scott Pushes Crypto Competitiveness

During an interview on Fox Business’ Mornings with Maria, Chairman Tim Scott confirmed that both Senate committees aim to vote on the bill next month, with floor consideration planned “early next year.” 

Scott framed the legislation as a core part of President Trump’s push to make the United States “the crypto capital of the world.”

Scott argued the framework will lower costs for everyday Americans while expanding 24/7 access to financial services. 

He linked the bill to broader affordability efforts, including tax reforms and the ROAD to Housing Act, which he said will increase housing supply and lower the age of first-time homebuyers.

Ultimately, the Responsible Financial Innovation Act/CLARITY Act seeks to create the most comprehensive federal regulatory framework for digital assets in U.S. history. By clarifying the roles of the SEC and CFTC, it would resolve years of jurisdictional fights, industry uncertainty, and inconsistent enforcement.

Related: U.S. Senators Back CLARITY Act as Bitcoin Policy Momentum Builds Ahead of Midterms