Momentum behind U.S. crypto reform stalled again this week, as lawmakers quietly stepped back from a long-anticipated vote.
Summary
- Senate committees delayed the CLARITY Act markup due to insufficient bipartisan support.
- Disputes center on stablecoin rewards, DeFi oversight, and SEC–CFTC authority.
- Lawmakers aim to revive momentum with revised language later in January.
The path to U.S. crypto regulation is stretching longer than many in Washington expected.
The Senate Agriculture Committee Chair John Boozman confirmed his panel will delay its planned markup of the Digital Asset Market Clarity Act, pushing it to the final week of January to preserve bipartisan support.
Markup postponed as votes fall short
The Senate Agriculture Committee had initially planned to hold its markup this week, alongside a parallel session in the Senate Banking Committee. That plan has now been scrapped. Boozman said more time is needed to secure enough votes from both parties before moving forward.
A markup is a critical step in the legislative process. It is where committees debate the bill line by line, propose amendments, and vote on whether to advance it to the full Senate. If either committee fails to approve the legislation, it stalls.
The delay reflects growing friction around several unresolved issues. Lawmakers remain divided over how to handle stablecoin rewards, the regulatory treatment of decentralized finance, and where authority should sit between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Senate leaders appear wary of forcing a vote without a clear path forward. A failed or highly partisan markup could weaken the bill’s chances later in the year, especially as the legislative calendar tightens.
Markup postponed as votes fall short
The goal of the CLARITY Act, formerly the Digital Asset Market Clarity Act of 2025, is to give U.S. cryptocurrency regulation some structure. It would specify which digital assets are subject to securities law and which are considered commodities, giving the CFTC more oversight authority.
Additionally, the bill specifies federal requirements for market oversight and asset segregation for cryptocurrency exchanges, brokers, and custodians. Supporters claim that more precise statutory guidance would take the place of the current enforcement-first strategy.
The House passed its version of the legislation in mid-2025 with broad support. The Senate, however, has struggled to align on language that satisfies lawmakers, regulators, banks, and crypto firms at the same time.
Industry groups have warned that last-minute changes could cost the bill their backing. Some lawmakers are also pushing for limits on how elected officials interact financially with crypto, further complicating negotiations.
By pushing the Agriculture Committee markup to late January, Senate leaders hope to refine the language and rebuild consensus. Whether that effort succeeds will determine if crypto market reform moves ahead in 2026 or remains stuck in legislative limbo.
