The highly controversial crypto market structure bill has been postponed by the US Senate Banking Committee.
Senate Banking Committee Chairman Tim Scott announced Thursday that the markup of digital asset market legislation, originally scheduled for today, has been postponed.
“I have spoken with leaders in the crypto industry, the financial sector, and with my Democratic and Republican colleagues, and everyone remains at the table and works in good faith,” he said.
“The goal is to establish clear rules of conduct that protect consumers, strengthen our national security, and ensure the future of finance is built in the United States. »
Sen. Cynthia Lummis told Bloomberg on Wednesday that raising the controversial legislation would likely be delayed. No date has been specified for when the CLARITY Act will go into effect, but industry observers believe it will happen before the end of the month.
I have spoken with leaders in the crypto industry, the financial sector, and with my Democratic and Republican colleagues, and everyone is staying at the table and working in good faith.
As we take a brief pause before moving on to a mark-up, this market structure bill reflects months of…
– Senator Tim Scott (@SenatorTimScott) January 15, 2026
Coinbase pulls support
Many observers have criticized banks for stepping in and pushing for changes that prevent or limit users from earning returns on stablecoins.
This has become a huge point of contention for companies such as Coinbase, which withdrew their support for the bill this week.
“After reviewing the Senate Banking Bill over the past 48 hours, Coinbase unfortunately cannot support the bill as written,” Coinbase CEO Brian Armstrong said Wednesday.
“Regulatory clarity that reduces investors’ growth potential is not progress,” commented macroeconomic media Milk Road.
“Brian highlights the cost built into this project. Yes, he clarifies who regulates crypto. But he does so by banning stablecoin yield, reducing tokenized asset pathways, and expanding oversight in DeFi.”
“We are at the table and will continue to move forward with a fair debate. I remain optimistic that the issues can be resolved through the markup process,” commented Brad Garlinghouse, CEO of Ripple.
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Bitcoin beats a slight decline
Bitcoin hit a two-month high of $97,700 in late trading on Thursday before retreating as news of the delay in raising the legislation broke.
The asset had slipped to $96,500 at the time of writing, but was still up slightly on the day and up more than 5.5% for the week.
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