The U.S. Senate Banking Committee has taken a decisive step toward rewriting the rules for digital assets. On Jan. 9, 2026, the committee announced that it will hold a markup on comprehensive digital asset market structure legislation on Jan. 15, 2026, advancing the bill toward formal consideration. The legislative effort is designed to provide regulatory clarity, protect investors, and ensure America remains the global hub for crypto innovation and jobs.
Chairman Tim Scott: 'Make America the Crypto Capital of the World'
Senate Banking Committee Chairman Tim Scott (R-S.C.) emphasized the strategic importance of the proposal. “This legislation is about making America the crypto capital of the world – so the next generation of jobs and innovation is built here, not overseas,” Scott said. “When we set clear rules, we give entrepreneurs the confidence to start companies, hire workers, and grow right here in the United States.” He further noted that clearer regulatory expectations would also make it more difficult for criminals and foreign adversaries to exploit emerging technology while reinforcing the stability of the U.S. financial system.
Building on the CLARITY Act and RFIA
The markup framework builds on the Digital Asset Market Clarity Act of 2025 (CLARITY Act, H.R. 3633), which passed the House with strong bipartisan support in July 2025. That bill focused on expanding Commodity Futures Trading Commission (CFTC) authority and identifying “mature” blockchains. Chairman Scott’s Senate version merges those concepts with the Responsible Financial Innovation Act (RFIA) to create a cohesive Senate framework.
The path to the Jan. 15 markup has been methodical. In June 2025, committee Republicans released market structure principles centered on investor protection, domestic innovation, and national security. Subsequent hearings examined regulatory gaps and jurisdictional issues with input from regulators, academics, and industry participants. A first discussion draft and a Request for Information were issued in July 2025, drawing feedback from dozens of stakeholders. Those responses shaped revisions incorporated into a second discussion draft published in September 2025.
Ending 'Regulation by Enforcement'
By moving to a markup on Jan. 15, the Senate Banking Committee seeks to codify the legal distinction between digital securities and digital commodities, effectively ending the era of “regulation by enforcement” and establishing statutory “rules of the road” that the CLARITY Act first introduced. This would replace the current fragmented enforcement-led approach by the Securities and Exchange Commission (SEC) and the CFTC with a clear legal framework.
Industry observers view the markup as a critical milestone. If the legislation advances through committee and reaches the full Senate floor, it could fundamentally reshape America’s crypto landscape—attracting capital, retaining talent, and clarifying the roles of regulators. The markup on Jan. 15 will determine whether the bill moves to a full Senate vote, potentially setting the stage for a landmark crypto law before the end of 2026.