Senator Tim Scott Signals December Push for Senate Crypto Market Structure Markup

Senator Tim Scott has suggested that the Senate Banking Committee may move forward with a markup of its long-anticipated crypto market structure proposal on December 17 or 18, signaling real momentum for U.S. digital asset regulation before the year ends. According to Fox Business reporter Eleanor Terrett, Scott shared the update during a Christmas-themed crypto gathering in Washington, D.C., hosted at Pubkey—the popular Bitcoin-friendly venue known for drawing policymakers and industry leaders. Scott, along with Senators Bill Hagerty and Cynthia Lummis, highlighted that the committee now sees a viable path to marking up the text before lawmakers head home for the holidays.

Scott noted that Republicans hold thirteen votes and that two or three Democrats have expressed early support, suggesting that the draft legislation could secure enough backing if scheduling aligns. This aligns with earlier expectations from Senate leadership, which had aimed for a markup in early December. His remarks were delivered to a crowd of roughly two hundred attendees, with the event sponsored by the Great Opportunity Policy, a GOP-aligned group focused on technology and economic advancement.

The evening also featured the premiere of an eight-minute short film titled Crypto Capital, which explored the challenges of advancing the GENIUS Act and underscored the broader need for a comprehensive crypto market structure framework. Additional senators, including Jon Husted, joined for a brief Q&A session that touched on current legislative hurdles and the evolving regulatory outlook.

Industry executives from major firms such as a16z, Coinbase, Kraken, Ripple, Chainlink Labs, and Crypto.com were also present, reflecting strong private-sector interest in progress. Scott emphasized that the potential markup would take place just before Congress recesses, marking one of the final opportunities of the session. Supporters hope that this late-year momentum can pave the way for bipartisan approval and position the bill for passage by early 2026.

This renewed push underscores the urgency surrounding U.S. crypto policy, as lawmakers and industry stakeholders seek clarity on market rules that could shape the future of digital assets.