Senate Ag Joins Banking Panel for Twin Jan. 15 Crypto Votes; Merged Bill Targets Early 2026 Floor
Senate Agriculture and Banking Committees schedule simultaneous January 15 markups for crypto legislation, aiming to merge drafts before the midterm freeze.
The Senate Agriculture Committee is set to mark up its portion of comprehensive crypto market structure legislation on January 15, directly aligning with the Senate Banking Committee’s schedule, according to reporting from Bloomberg Tax. The synchronized votes mark a decisive attempt by Republican leadership to force a floor vote on the digital asset framework before the 2026 midterm election cycle freezes legislative momentum.
The “Twin Bill” Strategy
Senate Agriculture Chair John Boozman (R-Ark.) confirmed the committee will vote on the digital commodities title next week, establishing a statutory regime for the CFTC to oversee spot crypto markets. This moves in lockstep with Senate Banking Chair Tim Scott (R-S.C.), who scheduled his panel’s markup for the same day to address the securities components of the bill.
The dual-track approach aims to merge the two drafts, likely modeled on the House-passed CLARITY Act, into a single package for a Senate floor vote. “The chairman is gonna have a vote, come hell or high water,” Sen. John Kennedy (R-La.) told reporters regarding the Banking panel’s timeline, underscoring the urgency felt by the GOP majority.
The U.S. Senate is potentially as close as it’s ever been to a crypto market structure law.
Political Hurdles: The Trump Ethics Provision
While the scheduling shows momentum, the content remains a battlefield. Democratic negotiators are withholding support over several “poison pill” issues, primarily ethics provisions targeting the Executive Branch, specifically citing President Trump’s family, from holding or operating crypto businesses while in office.
Other sticking points include:
- Stablecoin Yield: Disputes over whether non-bank stablecoin issuers can pay interest to holders.
- DeFi Treatment: Unresolved language regarding the liability of decentralized protocol developers.
Institutional Context
Market participants view the January 15 markups as a “put up or shut up” moment for the 119th Congress. With the 2026 midterms approaching, failure to advance the bill out of committee this month likely pushes any comprehensive market structure law into 2027. Investment bank TD Cowen noted that election uncertainty could force Democrats to stall, gambling on a potential chamber flip to rewrite the rules later.
Markets reacted with muted optimism to the news. While privacy tokens, the standout performers of 2025, held their gains, broader major caps remained flat, pricing in the significant execution risk of a polarized Senate vote.
