# Senate Republicans Deliver Final Crypto Bill Offer as Tim Scott Pushes Committee Vote

Senate Banking Committee Republicans delivered their “closing offer” to Democratic negotiators Monday night, setting the stage for a potentially landmark crypto market structure bill as Chairman Tim Scott moves to schedule a markup for next week. The comprehensive proposal represents the culmination of months of bipartisan negotiations aimed at establishing clear regulatory frameworks for digital assets.

The Republican offer introduces significant modifications to the pending cryptocurrency legislation, addressing key Democratic concerns while maintaining the core objective of transferring primary oversight authority from the Securities and Exchange Commission to the Commodity Futures Trading Commission. This jurisdictional shift has been the centerpiece of Republican efforts to create what they consider a more innovation-friendly regulatory environment for digital assets.

Tim Scott’s decision to push for a committee markup signals confidence in securing sufficient bipartisan support, though the timeline remains aggressive. Nevada Senator Catherine Cortez Masto, a moderate Democrat heavily involved in the negotiations, indicated expectations for next week’s proceedings while emphasizing that outstanding issues require resolution. The Banking Committee Chair’s strategic timing positions the legislation ahead of the 2026 midterm elections, when maintaining Republican control of the Senate becomes paramount.

The current market environment underscores the urgency behind this legislative push. Bitcoin trades at $93,534, showing resilience with a 5.86% weekly gain despite a modest 0.18% daily decline. The world’s largest cryptocurrency maintains its commanding 58.21% market dominance within a $3.2 trillion global crypto market, demonstrating the sector’s maturation and institutional acceptance.

This regulatory clarity initiative builds upon the success of the GENIUS Act, which established comprehensive federal frameworks for payment stablecoins and removed them from traditional SEC jurisdiction. The Banking Committee’s current bill aims to extend similar clarity to the broader digital asset ecosystem, addressing years of regulatory uncertainty that has constrained institutional participation and innovation.

The proposal’s timing coincides with accelerating institutional adoption trends. Morgan Stanley’s recent filing for bitcoin and Solana ETFs exemplifies Wall Street’s growing comfort with cryptocurrency exposure. Traditional financial institutions increasingly view regulatory certainty as the final prerequisite for full-scale digital asset integration, making this legislative effort particularly consequential.

Republican negotiators, including Senators Cynthia Lummis of Wyoming, Bill Hagerty of Tennessee, and Bernie Moreno of Ohio, have worked alongside Scott to craft provisions addressing Democratic priorities around consumer protection and market integrity. The “closing offer” document represents their final attempt to bridge remaining partisan divides before advancing to formal committee consideration.

The CFTC-centric approach represents a fundamental philosophical shift from current regulatory structures. Republicans argue the commodities regulator’s principles-based oversight model better accommodates blockchain technology’s decentralized nature compared to the SEC’s securities-focused framework. This transition would affect virtually every aspect of crypto operations, from trading platforms to custody services.

Market participants view this legislation as potentially more significant than individual product approvals or enforcement actions. The bill would establish foundational rules governing how digital assets are classified, traded, and held, creating the legal certainty necessary for broader financial system integration. Current regulatory ambiguity has forced many crypto companies to operate in compliance gray areas or relocate operations overseas.

The Banking Committee’s bipartisan negotiations have addressed several contentious areas, including stablecoin regulation, custody standards, and anti-money laundering requirements. The Republican offer likely includes enhanced compliance frameworks designed to satisfy Democratic concerns about illicit finance risks while preserving innovation incentives that Republicans consider essential for U.S. competitiveness.

Bitcoin’s current price action reflects broader institutional confidence in regulatory progress. The cryptocurrency’s resilience near $93,000 levels, combined with sustained institutional flows into ETF products, suggests market participants anticipate favorable legislative outcomes. Institutional accumulation continues during price consolidation phases, indicating professional investors view current levels as attractive entry points.

The markup scheduling represents Scott’s calculated political gamble. Success would cement Republican leadership on crypto policy ahead of midterm campaigns, while failure could energize Democratic criticism of rushed proceedings. The Chairman’s confidence suggests private assurances from moderate Democrats about potential compromise paths.

This legislative effort extends beyond immediate market implications. Comprehensive crypto regulation would position the United States as a global leader in digital asset governance, potentially influencing international standards and maintaining dollar dominance in the evolving global financial system. The stakes encompass not just domestic market structure but America’s competitive position in the digital economy’s next phase.