Overview
- Banking Committee Chair Tim Scott convened a bipartisan meeting and has signaled he could advance the bill without Democratic support if talks stall.
- Sen. Cynthia Lummis warned that a one-sided markup would weaken the legislation before it reaches the Senate floor.
- A tentative mid-January committee markup has been floated, with timing dependent on whether lawmakers bridge differences in the next several days.
- Key sticking points include stablecoin yield treatment, the test for token classification, DeFi oversight, and the division of authority between the SEC and CFTC.
- Industry figures urge swift passage to unlock real-world use cases, with Coinbase highlighting strong Bitcoin ETF inflows and Anthony Scaramucci pressing for action before the next midterms.