The U.S. Senate Banking Committee is set to vote in December 2025 on a bill that would regulate the cryptocurrency market, according to committee Chair Tim Scott. The legislation would designate Bitcoin and Ether as commodities under the Commodity Futures Trading Commission (CFTC).
The bill aims to resolve the oversight conflict between the Securities and Exchange Commission (SEC) and the CFTC. It also introduces rules for cryptocurrency exchanges, including segregating customer funds, implementing conflict-of-interest controls, and providing enhanced disclosures. These measures respond to vulnerabilities exposed during the collapse of platforms such as FTX.
If the committee approves the bill, Scott plans to advance it to the full Senate in early 2026. Legislative projections indicate that President Donald Trump is expected to sign the bill into law once it passes.
Bipartisan negotiations on the legislation are ongoing. A key point of debate is how to regulate decentralized finance (DeFi) platforms. Democratic lawmakers have raised concerns about money laundering risks and systemic vulnerabilities associated with DeFi protocols.
The December vote is a major step toward establishing a federal regulatory framework for digital assets. The bill comes as cryptocurrency exchange-traded funds (ETFs) expand and institutional adoption of digital assets continues to grow.
