Senator Lummis: Crypto regulation bill "closer than ever," parties still at the negotiation table

DeepFlowTech · 2026-01-16T00:31:16+00:00

The U.S. Senate Banking Committee was scheduled to review the cryptocurrency regulation bill on January 16, but it was canceled due to Coinbase CEO withdrawing support. Nevertheless, committee members stated that negotiations will continue, and the bill aims to clarify the allocation of regulatory responsibilities for digital assets. If passed, it will constitute a significant regulatory overhaul, but it faces time constraints and political pressure.

DeepFlowTech

2026-01-16 00:31:16

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Deep潮 TechFlow News, January 16th, According to The Block, the U.S. Senate Banking Committee was originally scheduled to hold a full-day meeting on Thursday to review cryptocurrency regulation bills. However, the plan was canceled on Wednesday evening after Coinbase CEO Brian Armstrong withdrew support over issues such as stablecoin returns and SEC overreach. Nevertheless, several committee members, including Wyoming Senator Cynthia Lummis, stated that negotiations would continue, and that all parties are “closer than ever” to reaching a consensus.

The bill aims to clearly delineate regulatory responsibilities for digital assets between the CFTC and SEC. Analysts say that if passed, it will become “the most significant regulatory overhaul of the U.S. financial markets since the financial crisis.” However, reaching bipartisan consensus before the November midterm elections still faces time and political pressures.

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