U.S. Senate's Crypto Market Structure Bill Gets Messy as Calendar Weighs Down

The U.S. Senate’s long-awaited crypto market structure bill is running into turbulence, and the biggest obstacle might not be politics—it’s the clock. With Congress juggling budget deadlines, year-end negotiations, and a packed 2026 election cycle on the horizon, lawmakers are struggling to carve out time for one of the most consequential financial bills in years.

Behind the scenes, Senate offices admit that staff are stretched thin, and key compromises still haven’t been finalized. Senator Cynthia Lummis and others pushing the legislation are trying to resolve outstanding disputes involving consumer protections, stablecoin oversight, and how much power the SEC and CFTC should ultimately have. But every week of delay narrows the window for a full vote.

Industry leaders warn that without swift action, innovation will continue shifting overseas, where jurisdictions like the UAE, Singapore, and Hong Kong are rolling out clearer rules. Meanwhile, opponents—ranging from teacher unions to consumer advocates—are mounting last-minute campaigns to slow the bill, arguing that its current draft exposes pensions and retail investors to unnecessary risks.

The result is a legislative stalemate: a bill too important to ignore, yet too complex to fast-track. Unless Congressional calendars open up soon, the crypto industry may enter 2026 facing the same regulatory uncertainty it has battled for years.