11th January 2026 – (Washington) This week, lawmakers are set to reignite discussions on a market structure bill that could shape the future of the cryptocurrency industry in the United States, resuming legislative efforts that stalled last year.
On Thursday, the Senate Agriculture and Banking Committees will hold hearings to review their respective portions of the crypto bill, potentially revising the text. This initiative aims to establish vital regulatory frameworks for digital assets in the U.S., signalling a pivotal moment for the crypto sector.
The primary goal of the proposed Clarity Act is to provide legislative clarity for the expansive crypto market and major digital asset firms. This could boost the adoption of blockchain technology in the U.S. by delineating the roles of the Securities and Exchange Commission and the Commodities Futures Trading Commission in crypto regulation, while also establishing clear classifications for various tokens. Furthermore, it seeks to set registration and compliance standards for crypto brokerages, exchanges, and related entities, facilitating their operations within the country.
According to Summer Mersinger, CEO of the Blockchain Association, these regulations could attract more digital asset companies to the U.S., stimulating the economy and enhancing market growth. She noted, “We’ve seen a significant movement of businesses back on shore due to a supportive administration. However, without a market structure law, this progress could reverse, especially if political circumstances change.”
The specifics of the bill’s impact on digital asset companies and investors will not be fully clear until the draft legislation is finalised.
During this week’s discussions, lawmakers will tackle three crucial issues: the regulation of stablecoin-linked rewards, the treatment of decentralized finance (DeFi) platforms and their developers, and restrictions on elected officials profiting from crypto ventures. The stablecoin issue is viewed as a major hurdle, with both Republicans and Democrats agreeing that it needs to be addressed in the bill.
Cody Carbone, CEO of the Digital Chamber, highlighted the significance of resolving the stablecoin rewards debate, as recent proposals have emerged to prevent stablecoin issuers from offering customer rewards. These products exploit a loophole in last year’s Genius Act, which forbids dollar-pegged tokens from providing yields, undermining traditional high-yield savings accounts.
On the DeFi front, advocates are working to ensure that developers are not held liable for illicit activities that may arise from the use of their technology. Amanda Tuminelli, chief legal officer at the DeFi Education Fund, stressed the importance of not imposing obligations on software rather than individuals.
Moreover, DeFi supporters are pushing for provisions that would allow individuals to self-custody their assets and seek exemptions for software developers who do not control or custody customer funds from registering as money transmitters.
Senator Elizabeth Warren (D-Mass.) advocates for measures to ban public officials from profiting from digital asset ventures while in office, adding complexity to the discussions. Mersinger acknowledged the challenges of this issue, noting that some Senate Democrats are committed to addressing it.
The Senate committees are expected to produce new drafts of the market structure bill, aiming to finalise details during Thursday’s markup session. These drafts will eventually converge into a comprehensive crypto bill that will go before the Senate floor, where deliberations may take weeks before advancing through the legislative process.
