US Senate crypto market structure bill stalls as Coinbase and industry groups withdraw backing

A US Senate crypto market structure bill, initially targeted for passage by September 2025 and later pushed to the end of the year, has hit a stalemate after key markup sessions were canceled in early 2026. Lawmakers remain divided from major crypto firms, with Coinbase pulling support over concerns including DeFi limits, tokenized equities, stablecoin interest and the balance of power between the SEC and CFTC, while experts warn that any eventual rulemaking could take years to complete.