- The markup was delayed due to severe weather and unresolved federal funding, now set for Jan 29 at 10:30 a.m. ET.
- The bill seeks federal registration for crypto exchanges and clarifies asset oversight under SEC and CFTC rules.
- Bipartisan negotiations continue, with some Democratic concessions and pending amendments amid high shutdown risk.
The U.S. Senate Agriculture Committee rescheduled its crypto market structure markup to January 29 at 10:30 a.m. ET in Washington. The committee delayed the vote after canceling earlier sessions tied to funding uncertainty and weather disruptions. Lawmakers face rising shutdown risks as federal funding expires Friday night, complicating the bill’s timing.
Markup Delay Tied to Funding Uncertainty
The Senate Agriculture Committee originally planned the markup for January 27 at 3:00 p.m. ET. However, the committee postponed the session and confirmed the change in an X post. The delay followed canceled Senate voting sessions earlier this week.
Notably, severe snow and icy conditions across Capitol Hill prompted lawmakers to suspend Monday activity. Safety concerns halted floor votes. As a result, the markup could not proceed as scheduled.
Meanwhile, the markup became linked to a broader government funding package. The House of Representatives approved its measure on Thursday. However, Senate negotiations remain unresolved as the deadline approaches.
Bill Scope and Ongoing Partisan Divide
The crypto market structure bill aims to clarify digital asset trading rules and curb market manipulation. It includes provisions similar to the Digital Asset Market Clarity Act, which already advanced in the House. The legislation would require federal registration for crypto exchanges.
Additionally, the bill outlines whether assets fall under securities or commodities law. It also divides oversight between the SEC and the CFTC. However, only Republican members have publicly supported the current Senate draft.
Bipartisan negotiations already delayed a January 15 markup by two weeks. While industry leaders welcomed protections for noncustodial developers, Democratic support remained limited.
Democratic Concessions and Shutdown Pressure
According to Politico, top Democratic senators agreed not to block Thursday’s markup. Senator Roger Marshall withdrew a proposed credit card swipe fee amendment after negotiations. Senator Dick Durbin also participated in those discussions.
Sources said White House officials warned that the amendment could derail the bill. Although some Republicans supported the provision, leadership chose to proceed without it.
Other amendments remain pending, including crypto ATM antifraud rules and limits on issuer bailouts. Polymarket data shows a 79% chance of a government shutdown before January ends. As of press time, Senate Democrats continue blocking a funding package, according to Senate Minority Leader Chuck Schumer.