This article was first published on TurkishNY Radio.
The US Senate Banking Committee has again delayed work on the market structure bill, slowing efforts to create a clear federal framework for digital assets. Sources cited by Bloomberg said the market structure bill may be postponed for several weeks.
The committee is now expected to revisit it in late February or March. Instead, the panel is expected to pivot toward housing legislation.
That shift follows President Donald Trump’s latest push to address affordability. The change has left crypto firms and investors uncertain, as the market structure bill is viewed as a key step toward regulatory clarity in the United States.
Senate Delay Deepens as Housing Takes Priority
The Bloomberg report said the Senate Banking Committee will pause its crypto work for now. The delay places the market structure bill behind housing priorities. It also extends the timeline for Senate markup.
White House Crypto Council officials urged lawmakers to act faster. Patrick Witt, executive director of the President’s Crypto Council, said it is unrealistic for a multi-trillion-dollar industry to operate without clear federal rules. He argued that the market structure bill needs immediate progress.
Also Read: Stablecoin Rewards Could Decide the Fate of the CLARITY Act
The delay also follows friction inside the crypto industry. Coinbase CEO Brian Armstrong recently withdrew support for the draft bill. He raised concerns, including what he called a de facto ban on tokenized equities.
SEC–CFTC Split Drives Push for Clear Crypto Rules
The market structure bill aims to define oversight roles for the SEC and the CFTC. Supporters say that clear boundaries are needed. They believe the bill could reduce confusion and end the “regulation by enforcement” era.
However, several issues remain unresolved. One of the biggest debates is stablecoin yields. Banking lobby groups and ranking Democrats have pushed for changes. They want restrictions that could stop stablecoin issuers from offering yields to holders.
The argument is focused on deposit flight. Banks fear stablecoins could pull money out of traditional savings accounts. That risk has become a central obstacle in the market structure bill negotiations.
Senate Banking Committee Shifts to Housing Priorities
The Senate Banking Committee is now expected to focus on housing legislation. Trump recently said he is taking “immediate steps” to support housing affordability. He described housing policy as central to the American Dream.
This shift has pushed the market structure bill down the agenda. Crypto firms have been watching the Senate schedule closely. Many expected progress after months of talks. The new delay suggests a longer wait.
The postponement also complicates coordination across committees. Crypto legislation often needs aligned movement. A pause in Banking can slow down the overall Senate pathway for the market structure bill.
White House Pushes for Faster Crypto Rules
Patrick Witt said Congress should not delay. He warned that crypto companies need clear rules to operate responsibly. He also said the US risks losing competitiveness if the policy stays unclear.
Witt’s comments show that the White House wants progress. The administration has positioned itself as supportive of digital assets. It has also signaled it wants a regulated approach rather than strict crackdowns.
For the industry, White House backing matters. Still, committee schedules often determine real outcomes. The market structure bill must move through markup, debate, and votes before it can become law.
CLARITY Act Delay Deepens After Coinbase Exit
The crypto bill that stalled is often referred to as the CLARITY Act. The planned markup was delayed after Armstrong publicly pulled support. He criticized several parts of the draft language.
Armstrong said the bill may restrict tokenized equities. That issue became highly sensitive. Tokenized stock trading is seen as a major future market. Some lawmakers also see it as a regulatory risk.
Armstrong’s statement created new tension. Crypto advocates were no longer unified. That made it easier for opponents to slow the market structure bill.
Agriculture Committee Still Moves Its Own Draft
Bloomberg noted the delay may not stop work in the Senate Agriculture Committee. That panel has advanced its own version of the market structure bill. Industry sources worry it could lack Democratic support.
Agriculture Committee Chair John Boozman defended the effort. He said the draft builds on months of work. He also said it reflects input from stakeholders. Boozman postponed the markup to late January.
Still, the Agriculture draft cannot move alone. It needs coordination with the Banking Committee. A final market structure bill will likely require bipartisan agreement to survive Senate votes.
Stablecoin Yield Fight Adds Political Pressure
Stablecoin yields remain a major dividing line. Banking groups want changes that limit yield offers. They argue stablecoin rewards could attract deposits away from banks.
The yield gap is one reason the issue escalated. Bankrate data puts the US national average savings yield at about 0.61%. In contrast, some USD stablecoin strategies can offer returns closer to 5%.
That difference has a policy impact. Savers want better yields. Banks want deposit stability. Lawmakers are stuck between consumer benefits and financial system concerns. The market structure bill now sits in the middle of that debate.
Crypto Prices Hold Firm Despite Policy Delay
Crypto markets showed only a mild reaction to the delay. Total crypto market cap rose slightly toward $3.1 trillion. Traders did not appear to panic.
Bitcoin recovered from an intraday slump. It moved back to about $87,300 and briefly pushed toward $90,000 in early Asian trading on Thursday. It later eased near $89,800. Ether reclaimed $3,000 and held above that level.
XRP and Monero posted modest gains. Canton also moved higher. The muted move suggests markets expected more delays around the market structure bill.
Trump Says Market Structure Bill Will Be Signed Soon
Trump tried to restore confidence with new remarks. Speaking at the World Economic Forum in Davos 2026, he said he hopes to sign the market structure bill “very soon.” He said his administration wants the US to remain the crypto capital of the world.
Trump also mentioned the GENIUS Act as he said he signed it into law last year. He added that Congress is now working hard on crypto market structure legislation.
His comments may keep the bill politically alive. But Senate scheduling remains the key hurdle. The market structure bill still needs formal committee action before any signing becomes possible.
Conclusion
The Senate Banking Committee has delayed the market structure bill again. Bloomberg sources said the delay could last several weeks. The committee is expected to focus on housing legislation next, pushing the market structure bill toward late February or March.
The Agriculture Committee continues its work, but stablecoin yield debates and political divisions still threaten momentum. Trump has promised action soon, yet the final timing remains uncertain.
Also Read: Why Coinbase Is Concerned About Stablecoin Reward Restrictions in the CLARITY Act
Appendix Glossary Key Terms
Market structure bill: Proposed law that sets rules for crypto markets and assets.
CLARITY Act: A draft crypto market structure bill focused on US oversight roles.
SEC: US regulator that oversees securities markets and investor protection.
CFTC: US regulator that oversees derivatives and commodity-based markets.
Regulatory framework: A defined set of rules that guides how crypto firms operate.
Regulation by enforcement: When agencies rely on lawsuits instead of clear rules.
Stablecoin yield: Returns paid to users for holding or using USD stablecoins.
Deposit flight: Money moving from banks into stablecoins or other alternatives.
Markup hearing: A committee session where lawmakers debate and revise a bill.
Frequently Asked Questions About Market Structure Bill
1- What is the market structure bill?
The market structure bill is proposed crypto legislation. It aims to define clear rules for digital assets and divide oversight between the SEC and the CFTC.
2- Why did lawmakers delay the market structure bill?
Bloomberg sources said the Senate Banking Committee delayed the market structure bill to focus on housing legislation after Trump’s affordability push.
3- What is the stablecoin yield issue?
Some lawmakers and banking groups want restrictions on stablecoin yields. They fear yields could pull deposits away from traditional banks.
4- Did Trump support the market structure bill?
Yes. Trump said at Davos 2026 that he hopes to sign the market structure bill “very soon.”
