Senate Banking Chair Announces Breakthrough on Landmark Crypto Bill
The Senate Banking Chair says negotiators have reached a major breakthrough on a landmark cryptocurrency bill, moving the measure closer to committee consideration and a potential floor vote. While details remain to be finalized, sponsors characterize the progress as resolving key jurisdictional and market-structure questions that have slowed past efforts. The chair framed the development as a step toward providing legal clarity for exchanges, custodians, stablecoins and institutional investors.
Why it matters: clearer federal rules could reduce fragmentation across states and agencies, lowering compliance uncertainty for firms and encouraging more institutional participation. The next steps will likely include committee mark-up, inter-agency consultation and industry comment before any final vote. Market participants and regulators will be watching revisions closely, as the bill’s provisions could shape custody standards, stablecoin policy and the balance of oversight between the SEC, CFTC and banking regulators.