A New Era of Crypto Regulation: What’s at Stake in the Senate Vote
Alex Thorn, head of research at Galaxy, recently shared insights on a pivotal moment for U.S. crypto policy—the upcoming Senate Banking Committee vote on the digital asset market structure bill scheduled for January 15.
With the current Senate split at 53-47, reaching the 60-vote threshold for passage will require significant bipartisan support—between 7 to 10 lawmakers crossing party lines. The political challenge is steep, but the implications are far-reaching.
Why This Bill Could Reshape the Industry
- Establishes a regulatory framework for DeFi under anti-money laundering (AML) rules
- Clarifies how stablecoin reserve earnings can be used, enhancing transparency
- Provides legal safeguards for non-custodial wallet developers and open-source contributors
- Defines the scope of authority for securities regulators in token issuance
If passed, the legislation could serve as a powerful catalyst for broader adoption, institutional participation, and regulatory clarity.
Even if it fails to advance, the setback may weigh on sentiment in the short term. However, the fundamental momentum behind blockchain innovation and user adoption remains intact, suggesting that this vote is just one milestone in a longer journey toward mainstream integration.