By BlockAI — Washington, D.C. — Who: Senator John Kennedy and Tim Scott lead a tense Senate debate over the crypto market structure bill that could reshape U.S. rules for digital assets. What: Kennedy said the GOP is not ready to advance the crypto market structure bill, slowing efforts to create a broad regulatory framework. When: Lawmakers face a Senate markup deadline set for September 30, 2025 as committee discussions intensify. Where: The action is in the United States Senate, with implications for exchanges, banks and crypto firms nationwide. Why and How: Concerns about bank readiness, legal definitions and political consensus are keeping senators from rushing a full crypto market structure bill; the process follows earlier targeted laws like the GENIUS Act for stablecoins and the House-passed CLARITY Act.
Senator John Kennedy view
Senator John Kennedy has publicly questioned whether the Senate has solved core questions on custody, bank involvement and market stability. Kennedy insists a crypto market structure bill should not create regulatory confusion for consumers or institutions. His caution signals GOP resistance to a sweeping approach until detailed technical fixes and bipartisan language are in place.
Tim Scott markup deadline
Chair Tim Scott set the Senate markup deadline to force progress, but timetable pressure collides with technical complexity and partisan prudence. The Senate markup deadline raises the stakes for negotiators trying to draft a crypto market structure bill that satisfies oversight, enforcement and innovation goals. Leadership eyes amendments to narrow disagreements ahead of markup.
GENIUS Act and stablecoins
Targeted measures like the GENIUS Act on stablecoins showed lawmakers can move fast on narrower topics while preserving financial stability. Advocates say a comprehensive crypto market structure bill should build on the GENIUS Act’s gains for stablecoin safety while extending rules for exchanges, custody and market integrity. Lobbyists argue industry clarity depends on a durable regulatory framework that covers more than stablecoins.
CLARITY Act context
The House CLARITY Act matters because it created momentum around token definitions and agency roles, which the Senate must now reconcile with bank supervision. If the Senate aligns the CLARITY Act and a crypto market structure bill, institutions will have clearer guidance. Absent alignment, legal uncertainty could persist and slow mainstream adoption.
What happens next
Committees will iterate text, hold hearings with policy experts and industry representatives, and test whether bipartisan compromise can bridge concerns about banks and enforcement. If senators resolve technical gaps, the crypto market structure bill could move to the floor; if not, the process will stretch beyond the current Senate markup deadline.
Market and community impact
For investors, exchanges and DeFi projects, delay means continued uncertainty in cryptocurrency regulation and potential patchwork rules across states. Clearer law would reduce compliance friction and help firms plan. For now, the Capitol Hill pause reflects the complexity of writing a durable regulatory framework for a rapidly evolving industry.
Frequently asked questions about crypto market structure bill (FAQ)
What is the crypto market structure bill intended to do?
It aims to create a broad regulatory framework for digital assets, covering market integrity, custody, exchange oversight and interactions with traditional banks.
Who is slowing the bill’s progress?
Senator John Kennedy and other GOP senators have voiced reservations; Chair Tim Scott is managing the process while setting a Senate markup deadline.
How do the GENIUS Act and CLARITY Act fit in?
The GENIUS Act targeted stablecoins, and the CLARITY Act passed the House to define tokens and agency roles; the Senate bill must reconcile those laws into a coherent framework.
What does the Senate markup deadline mean?
The Senate markup deadline (Sept. 30, 2025) is a schedule for the Banking Committee to consider and amend the bill; missing it could delay final action.
Will the bill create immediate clarity for crypto firms?
Only if negotiators resolve technical bank and custody issues. Until then, firms may face ongoing uncertainty in cryptocurrency regulation.
