The Senate begins review of crypto legislation this week, Goldman Sachs says it could become a key catalyst in 2026

U.S. Cryptocurrency Regulation to Reach a Critical Milestone Soon. According to the latest news, the U.S. Senate Banking Committee will hold its first formal markup of the “Digital Asset Market Clarity Act” (H.R. 3633) on January 15. The Senate version of the bill will be submitted to lawmakers this Monday or Tuesday. This bill was previously passed by the House of Representatives in July 2025. If the Senate also approves it, it will lay the foundational framework for cryptocurrency market regulation in the United States.

Core Content of the Bill and Timeline

Focus Points

The bill under review covers three core regulatory areas:

• Official Holding Ethics Standards: Regulating the holdings of government officials and insiders to prevent conflicts of interest
• Stablecoin Revenue Allocation: Clarifying how the proceeds from stablecoins should be distributed
• DeFi Regulatory Framework: Establishing clear standards for decentralized finance activities

Timeline

It is noteworthy that this bill may progress simultaneously with the version from the Senate Agriculture Committee, indicating that regulatory framework development is happening in parallel across multiple committees.

Why This Review Is Critical

Market Optimism

According to relevant sources, Goldman Sachs considers this crypto market structure bill a key catalyst for 2026, expecting it to pass in the first half of this year. This assessment reflects a relatively optimistic outlook from investment institutions regarding the bill’s prospects. Additionally, bipartisan tendencies in the Senate to adjust stablecoin revenue rules suggest a certain common ground on crypto regulation issues.

Significance of the Regulatory Framework Shift

Currently, the U.S. crypto market lacks a unified regulatory framework, with different agencies operating independently, leading to regulatory chaos. If passed, this bill will establish the first systematic and foundational regulatory framework for the U.S. crypto market, clarifying standards on key issues such as official ethics, stablecoins, and DeFi. This shift is of great significance for the long-term development of the industry.

Potential Market Impact

In the short term, the progress of the bill will influence market sentiment. Smooth Senate review may be seen as a positive signal, boosting risk appetite. In the medium term, if the bill is ultimately passed, a clear regulatory framework could reduce market uncertainty but may also impose constraints on certain projects and trading methods.

It is important to note that this week also includes the release of the U.S. December CPI data (January 13), among other macroeconomic factors, which will also impact market trends. The performance of the crypto market will be influenced by both regulatory developments and macroeconomic data.

Summary

The Senate’s review of the crypto market structure bill this week marks a new phase in U.S. crypto regulation. The bill addresses core issues such as official ethics, stablecoins, and DeFi, and if passed, will establish the first systematic regulatory framework. Optimistic expectations from institutions like Goldman Sachs and bipartisan consensus in the Senate increase the likelihood of its approval. Monitoring the progress of the Senate’s review this week and the subsequent timeline for passage will be key to understanding the future direction of U.S. crypto regulation.