The chairman of the Senate Banking Committee met with representatives from an exchange and other leading crypto companies.

Senate Banking Committee Chairman Tim Scott and staff met with representatives from leading crypto industry companies such as an exchange, Chainlink, a16z, and Ripple to discuss the text jointly drafted by the committee and the Democrats. This meeting replaced the originally planned market structure markup hearing. The committee does not intend to hold a markup hearing on the text before the Christmas holiday but plans to follow up in early 2026. It is currently uncertain whether the text will be made public and what the subsequent direction will be. This meeting is of great significance for the determination of regulatory text for the crypto industry.