The Senate Agriculture Committee delayed markup of the FIT21 crypto bill to the last week of January. Chairman John Boozman said in a statement that bipartisan talks had progressed but needed more time.
Lawmakers had set the markup for January 15 to align with Banking Committee action. “I remain committed to advancing bipartisan crypto market structure legislation,” Boozman wrote.
Industry and financial stakeholders met privately last week to discuss the measure. Sources said treatment of decentralized finance and yield-bearing stablecoins remains unresolved.
During talks, SIFMA pressed to narrow disagreements while crypto advocates pushed back. The measure was introduced in 2023 and passed the House in May 2024 as the crypto market structure bill.
The GENIUS Act set baseline stablecoin rules last year but left yield-generating models unresolved, pushing those issues into current talks (Ed. note: unresolved rules could determine major industry support).
