U.S. Senate Banking Chair Tim Scott announced plans for a committee vote on the long-awaited crypto market structure bill next month, saying he aims to bring the legislation to the Senate floor early next year. Scott emphasized that the bill would protect consumers while strengthening America’s role as a global economic leader, adding that President Trump is expected to sign it once passed.

Senate Banking and Agriculture committees must jointly approve the measure, which divides oversight between the SEC and CFTC and introduces a new category for “ancillary assets” to clarify which digital tokens are not securities. Scott accused Democrats of slowing progress but noted bipartisan talks are ongoing, especially after a leaked Democratic proposal on DeFi drew strong criticism from the crypto industry.

Industry leaders recently met separately with both parties, with some Democrats signaling they want to finalize the legislation. Supporters say the bill could position the U.S. as the world’s leading hub for digital assets, provided lawmakers bridge remaining political divides.