Cryptocurrency bill hearing postponed to January 27, underlying the true considerations behind the escalating bipartisan battle

The U.S. Senate Agriculture Committee announced yesterday that the originally scheduled hearing on the Crypto Market Structure Act on January 15th has been officially postponed. The new schedule is to release the bill text on January 21st, with a review hearing held on January 27th. This 12-day delay does not reflect a stall in the legislative process but rather deep negotiations between the two parties on crypto regulation.

The True Logic Behind the Delay

Official statement vs. actual considerations

Chairman John Boozman of the Agriculture Committee cited “ensuring legislative transparency and providing members with more time for review” as the reason. This phrasing is quite restrained in political language. According to relevant information, the real driving factors are that both parties need more time to maintain a shared support for this issue.

The decision to delay itself speaks volumes. If the bill content had already been finalized, an additional 12 days wouldn’t be necessary. This indicates that key provisions still need coordination between the Agriculture and Banking Committees, as well as among members of both parties.

Parallel review by two committees

This delay involves different paces in two committees:

The Banking Committee insists on proceeding as planned, while the Agriculture Committee opts to delay. This difference itself is a signal. The Banking Committee may be more satisfied with the current version, or both parties have reached a basic consensus on SEC regulation framework. The delay by the Agriculture Committee suggests that jurisdiction over CFTC and ethics clauses (involving Trump and his family’s crypto assets) remain contentious points.

Key Controversies

Based on the latest information, the main disputes over the bill include:

• Stablecoin Yield Clauses: The banking sector worries that stablecoin yields divert deposits from banks, prompting some legislators to prepare more stringent amendments. This is the most direct conflict of interest between traditional finance and the crypto industry.

• Ethics Clauses: Democrats insist on including Trump and his family’s crypto assets under regulatory scrutiny, which has become a “red line” in negotiations.

• Regulatory Agency Composition: How to balance power between SEC and CFTC will influence the future regulatory landscape.

These issues cannot be quickly resolved in a few days and require political negotiation and compromise.

How Should the Market Interpret This Delay?

Delays are often seen as negative signals, but in this case, the logic should be viewed differently:

The delay indicates momentum for the bill. If there were no genuine intention to advance, the Agriculture Committee chairman wouldn’t publicly announce a new hearing date. This clear timetable itself is a form of commitment.

Both parties want this bill. Republicans seek achievements, Democrats want regulatory certainty. SEC Chairman Paul Atkins has already expressed confidence that the bill will be signed by Trump this year. This is not casual talk but based on understanding the intentions of both parties.

Time creates space, which may lead to smoother passage. The extra 12 days could allow some contentious provisions to be negotiated into a compromise. A final bill with broader consensus will be more durable and less likely to be overturned later.

Key Dates to Watch

• January 21: Bill text released, allowing the market and industry to scrutinize the specifics. This is the real stress test.

• January 27: Agriculture Committee review hearing. This is a critical moment. If passed on this day, it indicates that both parties have reached a substantive consensus.

• Subsequently: The bill will need to go through full Senate approval, which is usually faster since committee negotiations are the most time-consuming part.

Summary

The delay is not bad news but a normal part of the legislative process in crypto regulation. It shows that the U.S. is taking the development of crypto market regulation seriously rather than rushing legislation. A basic consensus between the two parties on the regulatory framework has been formed; what remains are fine-tuning of interests.

For the market, the key focus should be on the bill text released on January 21 and the outcome of the January 27 hearing. These two points will more directly influence market expectations. The current delay, in fact, increases the likelihood of final approval.