Senate delays crypto market-structure bill markup to late January amid SEC/CFTC jurisdiction talks
Senate leaders, led by Sen. John Boozman, have postponed the Agriculture Committee’s markup of the bipartisan crypto market-structure bill until the last week of January. The delay reflects ongoing negotiations among senators over core provisions: stablecoin regulation, custody and trading rules for digital-asset brokers and exchanges, and the allocation of jurisdiction between the SEC and the CFTC. The draft bill aims to create clearer regulatory frameworks for cryptocurrency markets, potentially assigning primary oversight of digital-asset spot markets to the CFTC while leaving the SEC in charge of tokens deemed securities. Lawmakers are negotiating investor-protection measures, licensing and custody requirements for custodians and exchanges, and reporting obligations for stablecoin issuers. The postponement extends regulatory uncertainty, gives exchanges and stakeholders extra time to lobby and prepare, and may influence short-term market sentiment as traders await final language and timing. Primary keywords: crypto market-structure bill, stablecoin regulation, SEC, CFTC. Secondary keywords: custody rules, exchanges, custodians, legislative delay, regulatory clarity.
Neutral
The delay is neutral overall for crypto prices because it primarily prolongs regulatory uncertainty rather than introducing immediate restrictive measures or clear approvals. Short-term: the postponement may increase volatility as traders react to extended uncertainty and lobby-driven speculation about different jurisdictional outcomes (SEC vs CFTC) and stringent stablecoin or custody rules. This can cause swings in crypto market sentiment, especially for projects tied to stablecoin infrastructure or exchanges. Long-term: final legislation could be bullish or bearish depending on outcomes — clear rules and CFTC oversight of spot markets may boost institutional participation and liquidity (bullish), while onerous custody, licensing, or stablecoin requirements could raise compliance costs and reduce activity (bearish). Until language is finalized, traders should expect neutral-to-mixed price action and prepare for higher volatility around future bill milestones and votes.