Key Takeaways
- Tillis said lawmakers must act by early 2026 to finalise bills on digital assets, stablecoins, and crypto regulation.
- Tillis emphasised that Congress needs to pass meaningful crypto reforms by “the first part of January or February”
In a major development, North Carolina Senator Thom Tillis, a Republican member of the U.S. Senate Banking Committee, has cautioned that Congress has only a limited window to advance crypto legislation before the upcoming election cycle disrupts progress.
Tillis said lawmakers must act by early 2026 to finalize bills on digital assets, stablecoins, and crypto regulation. “I’m not optimistic about us moving much further on anything around digital assets, stablecoins, or crypto in this Congress,” he said, warning that the legislative momentum could fade as election politics take center stage.
Further, Tillis emphasised that Congress needs to pass meaningful crypto reforms by “the first part of January or February” to avoid pushing the process into the 2026 midterm cycle, where the chances of success would significantly diminish.
The senator’s comments come amid an ongoing U.S. government shutdown that began on October 1, following disagreements over a funding bill tied to healthcare cuts and subsidy disputes. While the Senate remains active, House Speaker Mike Johnson has yet to resume legislative business in the chamber, delaying multiple bills—including those related to digital assets.
One of the key measures stalled by the shutdown is the CLARITY Act, which was approved by the House in July. The proposed bill was intended to create an unified regulatory framework for digital assets. It aims to clarify which regulator, the SEC (Securities and Exchange Commission) or CFTC ( Commodity Futures Trading Commission), has authority over specific crypto projects
In August, Senator Cynthia Lummis, another Republican member of the Senate Banking Committee, had hinted that the crypto bill could become law by 2026. Lummis had said– before the shutdown came into effect — Republicans’ goals included having a market structure bill passed through the Senate Banking Committee by the end of September, followed by consideration in the Senate Agriculture Committee the next month.
