U.S. Senate Pushes Crypto Market Structure Bill Toward Year-End Deadline

The U.S. Senate is moving closer to finalizing its long-debated crypto market structure bill, with lawmakers signaling it could pass before the end of the year. Speaking at CoinDesk’s Policy and Regulation event, Senator Kirsten Gillibrand (D-N.Y.) emphasized the urgency but cautioned against rushing. “I don’t want to put an artificial deadline on anything,” she said, pointing to the ongoing bipartisan budget talks as Congress’ immediate priority.

The legislation, seen as critical for establishing clear rules for cryptocurrencies and digital assets, has already missed several earlier deadlines. Former President Donald Trump initially pushed for an August completion, later slipping to September. Senate Banking Committee Chairman Tim Scott had also set Sept. 30 as a target, but negotiations now appear likely to extend further.

Senator Cynthia Lummis (R-Wyo.), who leads the Banking Committee’s crypto subcommittee, expressed determination to complete the Banking panel’s work this month. However, she noted the Senate Agriculture Committee will likely need until October, pushing overall progress closer to year’s end. “It’s really important to me that we get this done by the end of the calendar year,” Lummis said.

Democrats are pressing for stronger consumer protections, regulatory clarity, and ethics provisions to prevent lawmakers and their families from profiting off crypto ventures. Gillibrand stressed the importance of transparency and ethics to protect the industry’s integrity, though she stopped short of demanding non-negotiable terms. Lummis countered that restrictions on crypto trading for elected officials should be part of a broader effort covering all investments, not crypto alone.

Despite disagreements, both parties agree the bill is vital for the future of U.S. crypto regulation. With bipartisan momentum building, industry stakeholders are closely watching whether lawmakers can deliver a comprehensive framework by year’s end.