Crypto bill stalled until April while senate tackles voter ID law

The U.S. Senate has suspended consideration of the crypto market structure bill until April as lawmakers shift their attention to voting on the Trump-backed SAVE America Act.

Senate Majority Leader John Thune said lawmakers will only complete the CLARITY Act once they’re done with the SAVE America Act, a voter ID bill that requires proof of citizenship to register and a photo ID to vote.

Senate abandons crypto bill for voter ID bill

Under the Save America Act, people must show proof of citizenship for voter registration and present a photo ID to cast a ballot. President Donald Trump and many Republican leaders support the voter ID bill and said lawmakers should prioritize it before any other.

Republicans hold a slim 53-47 majority in the Senate, so the SAVE America Act won’t easily pass under current rules without changes in the filibuster, but Thunes said he has no plans for such changes.

Senator Mike Lee and Representative Anna Paulina Luna proposed a standing filibuster, requiring senators to physically block the bill on the floor, or attaching the voter ID rules to another bill with a higher chance of passing.

Meanwhile, voting rights advocates say the bill will make it difficult for women, young voters, and minorities to take part in the elections.

On the other hand, investors, fintech startups, and digital asset companies say delaying the CLARITY Act to focus on the crypto bill will only slow innovation, fundraising, and the adoption of new digital products.

Lawmakers and crypto companies worried about the delay

Without clear guidelines from the CLARITY Act, crypto companies are operating in the dark about what they can and can’t do, risking hefty penalties for mistakes. The Senate Banking Committee had even planned to meet in January to review and approve the Bill before it moved to the Senate, but the meeting was postponed, and the crypto industry is frustrated.

Crypto exchanges even said markets are slowing down and innovation is stalling because the delays and uncertainty make investors nervous about spending on digital assets.

Startups are also struggling to raise funds for new tokens or blockchain projects because investors are waiting to see the outcome of the rules before investing. Some lawmakers, like Ohio Senator Bernie Moreno, also hoped the crypto bill would pass by April, but that seems very unlikely, as the Senate is focused on the voter ID bill.

Meanwhile, the White House has held several meetings with banks and crypto industry representatives to address disagreements arising from the CLARITY Act, but neither party has reached an agreement. Some crypto observers say banks and other financial groups are intentionally slowing the bill because, in their view, it favors the crypto industry more.

The delay also has significant effects on the regulation of digital assets, as oversight remains patchy and assets, such as stablecoins or tokenized equities, are in a gray zone where companies are unsure how to operate. For this reason, U.S. startups risk being overtaken by international competitors who already have clear regulations, and investors will not invest until clear regulations for blockchain services are in place.

Senate Majority Leader John Thune has indicated that the Banking Committee will consider the bill by around April, after the vote on the SAVE America Act. This is because lawmakers must reconcile the House and Senate versions of the bill. There are still some issues that need agreement on, such as whether central bank digital currencies should be banned for a temporary or permanent period. The voter ID vote and the 2026 midterm elections are also a part of the equation.

The delay demonstrates the interconnected nature of the Senate’s priorities and the impact that a significant piece of legislation can have on the timelines of others. The takeaway for the crypto space is that the wait continues, with the added awareness that, when the bill does progress, it could be a game-changer.

It’s also a reminder of how difficult it can be to manage a growing and complex space like digital assets. There are many different priorities for lawmakers, as well as a need for businesses to prepare for what could be a relatively rapid shift as soon as the Senate decides what to do with its crypto bill.