The US Senate moved a major crypto market structure bill to committee markup, even though Democrats refused to support it. Bitcoin
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is trading just below $90,000 as news broke, a reminder that regulatory headlines still dominate the landscape.
This fight breaks out at a sensitive moment, as Washington tries to decide who controls crypto amid growing adoption, with the Trump administration seemingly in direct opposition to Democrats on crypto regulation.
NEW: Senate Ag Committee Poised to Reveal Latest Crypto Bill Text
Banking is in a holding pattern on its markup, but @SenateAg is expected to move forward with its vote next week & release the latest legislative text by close of business today.https://t.co/pFqJpGLyNy
— Eleanor Terrett (@EleanorTerrett) January 21, 2026
Crypto regulation is still a major topic, with this bill and, even more so, the CLARITY Act, and 2026 is set to be a huge year for the space as these bills are finalized and put into place, shaping the future landscape for crypto.
This news, coupled with the Trump administration’s cooling talk of trade tariffs on Europe over Greenland, has sparked optimism in the markets, with over $75Bn added onto the combined crypto market cap overnight.
(SOURCE: CoinGecko)
What Does the Senate’s Updated Crypto Bill Mean?
The Senate Agriculture Committee released updated text for a crypto bill and scheduled a markup vote for January 27. A markup is when senators debate details and propose changes before a full vote. This time, Republicans pushed ahead without Democratic backing.
The bill focuses on âmarket structure.â Thatâs Washington-speak for deciding which agency regulates crypto. Think of it like zoning laws for finance. Who polices exchanges? Who oversees tokens? And what rules platforms must follow.
This effort runs alongside the CLARITY Act draft, which stalled after Coinbase pulled support. When the biggest US exchange walks away, lawmakers pay attention.
DISCOVER: Best New Cryptocurrencies to Invest in 2026Â
Why Stablecoins Are the Real Battlefield in the Crypto Regulation Landscape
Stablecoins sit at the center of this fight. These are digital dollars pegged to $1, like USDC or USDT. Beginners often use them as a safe place to park cash between trades.
The Banking Committeeâs CLARITY Act seeks to limit the yield that stablecoin platforms can pay. Banks want this. They fear deposits flowing out. Crypto firms hate it. They say it blocks competition and hurts users.
The Agriculture Committee bill takes a different route. It pushes stablecoins outside the CFTCâs regulatory purview and relies on frameworks like the GENIUS Act, which already requires stablecoins to be fully backed. Less micromanagement. More room to experiment.
How could this affect everyday crypto users?
If this bill passes, exchanges and DeFi apps may finally get clearer rules. That matters because uncertainty keeps features locked or unavailable to US users. Clear rules often mean more products, better access, and fewer sudden shutdowns.
Thereâs a catch. A partisan bill can flip fast. If control of Congress changes, new lawmakers can rewrite the rules. Thatâs why some industry leaders warn that rushing a one-sided bill may backfire.
Patrick Witt from the White House Crypto Council said delays invite harsher laws later, especially after a crisis. History backs this up. After 2008, lawmakers rushed through Dodd-Frank. Banks hated it, and consumers paid the price.
âNo bill is better than a bad bill.â
What a privilege it is to be able to say those words thanks to President Trumpâs victory, and the pro-crypto administration he has assembled.
But letâs not kid ourselves. There *will* be a crypto market structure bill â itâs a question ofâŚ
— Patrick Witt (@patrickjwitt) January 21, 2026
Regulation headlines create short-term volatility. We saw that again as major caps in Bitcoin and XRP
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dipped on the recent CLARITY Act delay news. That does not mean crypto is broken. It means traders react first and read later.
For newer investors, the move here is simple. Do not chase price swings driven by politics, and do not assume any bill guarantees profits or safety.
Stablecoins that pay yield carry extra risk. Yield comes from somewhere. If rules change fast, platforms can pull products overnight. Simple advice: stick to well-known platforms, spread risk, and never treat stablecoin yield like a savings account.
Washington wants to move fast. Markets want clarity. The tension between those goals will continue to shape crypto prices well beyond this vote.
DISCOVER:
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