The U.S. Senate Agriculture Committee has delayed the markup of its highly anticipated crypto market structure bill, pushing the discussion to the last week of January. The decision, announced on Monday, January 12, 2026, by Committee Chairman John Boozman, aims to allow more time for bipartisan consensus on the legislation.
The crypto bill, unofficially dubbed the CLARITY Act, seeks to establish a federal regulatory framework for digital assets, primarily focusing on the Commodity Futures Trading Commission's (CFTC) oversight of cryptocurrency markets. Similar to the Clarity Act passed by the House of Representatives in July 2025, the Senate bill aims to concentrate federal oversight of cryptocurrency markets with the CFTC, potentially reducing the Securities and Exchange Commission's (SEC) jurisdiction over the sector.
Chairman Boozman stated that the delay is necessary to "finalize the remaining details and ensure the broad support this legislation requires". He acknowledged the "meaningful progress" and "constructive" bipartisan discussions that have already taken place. While the specific details requiring further negotiation remain unclear, stablecoin yields have emerged as a key sticking point in broader discussions around crypto regulation on Capitol Hill.
The legislation intends to define digital commodities and establish a regulatory regime for spot market digital commodities under the CFTC. It also incorporates consumer protections, including customer fund segregation, conflict-of-interest safeguards, customer disclosure requirements, and prohibitions on certain affiliated trading activities. A trading registration regime is also in the works, designed to facilitate liquid and resilient regulated markets while protecting retail participants. The bill also addresses self-custody and innovative technology, and requires the CFTC and SEC to coordinate and collaborate on necessary inter-agency rulemakings.
The delay comes as the window narrows to pass crypto legislation. Some analysts suggest that the bill needs to progress by the second quarter of the year to avoid stalling due to midterm election politics. Others have cautioned that the bill could face delays until 2029.
Some are concerned about the implications of the crypto market structure legislation, particularly regarding its potential impact on the SEC's authority. Senator Elizabeth Warren has voiced concerns that the bill, as currently drafted, could weaken the SEC's regulatory power and increase the exposure of 401(k)s to volatile crypto assets.
The Senate Agriculture Committee is seen as a key player in shaping digital asset regulation, particularly concerning the CFTC's jurisdiction. The committee's decision to postpone the markup suggests a cautious approach to ensure bipartisan support and address remaining concerns before advancing the legislation. The committee is composed of 12 Republicans and 11 Democrats.
