Senate postpones votes, pushing crypto market structure markup likely to Tuesday, creating schedule pressure.
New bipartisan amendments, including the Credit Card Competition Act, add complexity to the crypto bill negotiations.
Compressed Senate schedule and partisan disagreements further delay progress on crypto legislation and funding measures.
The U.S. Senate canceled Monday votes due to a severe snowstorm, delaying the Agriculture Committee’s crypto market structure markup. Lawmakers now likely aim for Tuesday afternoon votes, leaving the bill’s fate uncertain. Committee officials offered “nothing to announce yet,” while new amendments, including the bipartisan Credit Card Competition Act, were recently filed.
Amendments Add Complexity
The Credit Card Competition Act, proposed by Senators Roger Marshall, Dick Durbin, and Peter Welch, bars certain credit card networks and issuers from requiring exclusivity. These changes were added to the draft shared Wednesday.
The Senate Agriculture Committee previously postponed the markup to ensure bipartisan support, with Senator Boozman noting that consensus could not be reached. The amendment filings add another layer to ongoing negotiations.
Senator Kirsten Gillibrand remains optimistic about progress, while Banking Committee Chairman Tim Scott highlighted bipartisan discussions with crypto industry and financial sector leaders. Despite these efforts, the committee has not set a new date for the markup.
Weather Disruptions Compress Senate Schedule
The National Weather Service forecasted heavy snow and ice accumulation in Washington, prompting Senate leaders to shift votes to Tuesday evening. Ryan Wrasse, spokesperson for Senator John Thune, confirmed the delay aimed to account for “impending weather,” while emphasizing the urgency of passing six remaining spending measures before the January 30 government shutdown deadline.
The House has already passed a $1.2 trillion funding package, leaving the Senate with fewer in-person days to negotiate. Dissent among senators complicates approval, including Democratic concerns over ICE funding, federal worker protections, and health insurance guarantees, as raised by Senators Tim Kaine and Chris Coons. Republicans also face pressure from conservative groups led by Senator Rick Scott to remove earmarks.
With the House absent and weather disruptions limiting Senate floor time, lawmakers face a compressed schedule to advance both the crypto market bill and remaining funding measures. The combination of winter storms, legislative amendments, and partisan concerns continues to delay the Senate’s crypto markup process.
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