The Senate Banking Committee has scheduled an official hearing on the cryptocurrency bill, which aims to regulate the crypto market, for Thursday, January 15. This date was first mentioned during a live stream on December 19 by Cody Carbone, CEO of the Digital Chamber of Commerce, while a formal announcement is still expected next week.
Hearing Scheduled on Cryptocurrency Bill
The hearing in the banking committee is part of the parliamentary process where the bill is refined before a possible Senate vote. The specified date has appeared in public statements by participants and was named by Cody Carbone during the live stream, with final confirmation still awaited from the committee.
Political Disagreements and Progress
There are signs of progress in negotiations between Republicans and Democrats: Banking Committee Chairman Tim Scott stated that "significant progress" has been made in talks with Democrats. However, from public reports, it remains unclear whether a firm compromise has been reached that would allow both parties to unanimously support the bill.
Procedural Challenges in the Senate
The Senate’s legislative process involves additional stages of coordination, including merging with relevant sections from other committees. After these procedures, according to related materials, at least 60 votes will be required for final approval in the Senate, making Democratic support crucial for the initiative’s success.
Key Regulatory Issues
Several contentious topics remain central to discussions and have previously hindered the passage of similar initiatives. These key issues involve both technical and legal aspects of the market, and their resolution will determine the final form of the bill.
- Regulation of DeFi and the scope of oversight over decentralized protocols;
- Token classification — distinguishing securities from commodities;
- The right of stablecoin issuers to offer rewards to users.
Why This Matters
For miners in Russia, the scheduling of the hearing means that the rulemaking process is still active and could impact the legal environment around crypto operations in the future. While there is no direct or immediate effect guaranteed for miners’ operations, the final decisions on token classification and stablecoin rules could change the legal status of services and platforms.
What to Do?
If you manage between 1 and 1000 devices, it makes sense to maintain basic readiness for changes: monitor official committee updates and keep records of documents related to your operations to respond promptly if needed. It is also helpful to follow discussions on tax and regulatory initiatives, including materials on stablecoin incentives, which may affect related rules and incentives.
Finally, keep backup plans in case of changes in service availability and banking procedures: simple steps include documenting equipment expenses, regularly backing up configurations, and tracking news on previous initiatives, such as the 2025 law, to understand which topics remain contentious.