Senators Push Back on Tim Scott’s Broad Crypto Bill
On Jan. 17, 2026, Senate Banking Chairman Tim Scott’s effort to introduce broad new cryptocurrency regulations ran into resistance from Senate Judiciary Chairman Chuck Grassley and ranking member Dick Durbin (D-Ill.), who have publicly flagged significant issues with the proposal. Their objections target the bill’s scope and potential overlap with existing regulators, arguing the language could create legal uncertainty for markets, exchanges, and custodians.
That bipartisan concern matters because it increases the likelihood of extended committee debate, amendments, or a stalled timeline for floor consideration. For the crypto industry and investors, the clash signals continued regulatory uncertainty even as lawmakers seek clearer rules. Expect further hearings and negotiation as Senate leaders work to narrow contentious provisions or craft compromise text that can attract both parties’ support.