Senate Pushes Bipartisan Crypto Bill Ahead of Deadline

U.S. Senate negotiators are racing against a year-end deadline to advance a bipartisan cryptocurrency market structure bill, as Democrats review a Republican compromise proposal amid ongoing disputes over regulatory roles and ethics rules.

The legislation, aimed at clarifying oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission, has progressed through closed-door talks in recent weeks. Senate Banking Committee Chair Tim Scott delivered the compromise offer to Democrats late last week, prompting a private meeting on Monday to assess it and consider a counterproposal. Key points of contention include stronger disclosure requirements for digital assets, limits on yields for stablecoins, and ethics provisions to restrict public officials from profiting on crypto ventures. The White House has rejected the ethics measures, citing no conflicts of interest, while Democrats have emphasized preventing undue influence in the sector.

Lawmakers face mounting pressure as the current Congress adjourns at the end of 2025. Scott expressed confidence in holding a markup hearing in the Senate Banking Committee by mid-December, potentially December...