NEW YORK, Jan 13, 2026, 07:19 EST
- Bitcoin climbed roughly 1.4% to near $91,900, while Coinbase edged up about 0.9% in premarket trading
- Senate Banking unveiled an updated “manager’s amendment” text just before the committee’s Jan. 15 vote
- Senate Agriculture Chair Boozman pushed back his panel’s markup to the final week of January
Bitcoin and crypto-linked U.S. stocks nudged up in premarket Tuesday following Senate Banking Committee Chairman Tim Scott’s release of new text for a long-awaited crypto market structure bill. The proposal aims to clarify regulatory oversight across digital assets.
Congress is pushing now to establish a broad federal framework after years of a patchwork of state rules and enforcement-driven federal oversight. Lobbying efforts have ramped up ahead of committee action this week, raising the stakes for listed firms that rely on U.S. trading volumes and custody fees.
The bill centers on jurisdiction, seeking to clarify which tokens fall under the Securities and Exchange Commission as securities and which qualify as “digital commodities” regulated by the Commodity Futures Trading Commission. For exchanges and brokers, this could reshape how they handle listings, disclosures, and custody.
Bitcoin gained roughly 1.4%, hovering near $91,900. Coinbase edged up around 0.9% in premarket action. Bitcoin proxy MicroStrategy jumped about 3.1%. Miners Riot Platforms and Marathon Digital surged approximately 7.4% and 4.2%, respectively.
On Monday, Scott announced the committee had put forward a bipartisan manager’s amendment — a set of negotiated tweaks leaders use to overhaul a bill ahead of voting. “Investors and innovators can’t wait forever while Washington stands still,” Scott said. https://www.banking.senate.gov/newsroom/majority/chairman-scott-releases-bipartisan-negotiated-market-structure-bill-text
The Senate Banking Committee set an executive session for Thursday at 10:00 a.m. ET to review H.R.3633, the Digital Asset Market Clarity Act of 2025. This markup phase lets senators debate, tweak, and decide if the bill moves forward.
H.R.3633 passed the House in July 2025 by a 294-134 vote, according to Congress.gov. The legislation sets up a regulatory framework for “digital commodities,” putting oversight of transactions and intermediaries—like exchanges, brokers, and dealers—under the CFTC’s jurisdiction. The SEC, meanwhile, would retain control over certain securities-related activities and trading platforms. https://www.congress.gov/bill/119th-congress/house-bill/3633
The manager’s amendment targets a contentious issue around stablecoin rewards. It would prohibit digital asset service providers from paying “interest or yield” just for holding a payment stablecoin — a crypto token usually pegged to the U.S. dollar. However, it permits incentives linked to actual use, like payments and transfers, and requires clear, plain-English disclosures of any compensation. https://www.banking.senate.gov/imo/media/doc/market_structure_draft.pdf
The Senate Agriculture Committee, which has jurisdiction over the CFTC, is working on its section of the bill. Chairman John Boozman announced he is delaying the committee’s markup until the last week of January. He said more time is needed to secure broad bipartisan support.
Matt Hougan, CIO at crypto index fund manager Bitwise, said a major breakthrough would have more impact than the usual “four-year cycle” story. He warned that if the CLARITY Act “sticks its head out but fails in Congress,” the crypto winter could drag on. https://www.ccn.com/news/crypto/bitcoin-price-all-time-high-clarity-act-end-crypto-winter-bitwise-matt-hougan/
A key issue is whether platforms can pay rewards on stablecoin balances — returns that resemble bank interest, even if labeled as “rewards.” According to Paul Hastings, banking groups warn these programs might trigger deposit flight. Crypto firms, however, argue that imposing limits beyond the current stablecoin law would unravel a fragile compromise. https://www.paulhastings.com/insights/crypto-policy-tracker/senate-advances-market-structure-markup-and-wyoming-launches-frnt-stable-token
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