Senate Crypto Bill Markups Likely Slip to January as Talks Stall

Overview

• Closed-door discussions indicate a pre-Christmas markup is increasingly unlikely, with several reports pointing to a post-holiday timetable.
• A leaked three-page GOP offer reported by Politico would add front-end sanctions compliance for certain DeFi platforms while preserving protections for software developers and self-custody.
• The same proposal includes Democratic requests for participation by Democratic commissioners in crypto oversight and ethics language to limit officials’ digital-asset profits.
• Sen. Cynthia Lummis says staff are exhausted and aims to release a draft by week’s end for industry review, while reporting suggests Sen. Tim Scott could still attempt a party-line markup if talks stall.
• Agriculture Chair John Boozman signaled to Bloomberg Tax he is likely to delay his committee’s markup into next year, even as a committee spokeswoman said a schedule would be set soon.