Senate Banking Committee Delays Markup of Key Crypto Bill as Industry Support Frays

In brief

  • Lawmakers said talks were continuing with industry, regulators and law enforcement, despite the delay.
  • Coinbase and other industry voices have pulled back support, warning the draft could create new uncertainty for developers and user access.
  • Critics argue provisions expanding enforcement powers and transaction controls could undermine consumer trust in digital-asset markets.

The Senate Banking Committee has delayed markup of a bipartisan crypto market structure bill, adding to earlier postponements by the Agriculture Committee and extending uncertainty around the legislation’s timeline.

Announced late Wednesday, Senate Banking Committee Chair Tim Scott issued a statement saying he had spoken with leaders across the crypto…

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