US Senate Banking Committee to vote on major crypto bill May 14
The US Senate Banking Committee will vote on a sweeping digital-asset markets bill on May 14. The legislation aims to clarify whether the SEC or CFTC oversees Bitcoin and other major cryptocurrencies, an unresolved question that has hampered the industry for years. Passage would deliver the legal clarity exchanges and large investors have long sought.
The US Senate Banking Committee's May 14 vote could end years of regulatory limbo for the crypto industry. The bill would place Bitcoin and other large cryptocurrencies under the commodity regulator CFTC rather than the SEC, while smaller and newer tokens would still be treated as securities subject to disclosure rules.
Negotiations led by committee chair Tim Scott have brought Republicans and Democrats close to a compromise text. If the committee approves it, the bill could reach the full Senate floor by summer. The White House has publicly backed the legislation as essential to keeping the digital-asset industry anchored in the United States.
Major exchanges Coinbase and Robinhood plan to accelerate bank partnerships and new product launches once clear rules are in place. The vote is also a turning point for institutional investors waiting on legal certainty. If the bill stalls, Asian and European venues will continue to pull liquidity away from US markets.
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