Washington, D.C. — A significant political hurdle blocking the path of comprehensive digital asset legislation has been removed, signaling a potential breakthrough for US crypto regulation in 2026. Senator Roger Marshall (R-Kan.) has reportedly agreed to withdraw his contentious credit card "swipe fee" amendment from the Senate Agriculture Committee's upcoming markup of the Digital Commodity Intermediaries Act (DCIA). The decision, confirmed by sources close to the negotiations on Tuesday, eliminates a major legislative poison pill, allowing the committee to focus on the core issue of defining regulatory lanes for the industry.

While a severe winter storm in Washington has forced Committee Chairman John Boozman (R-Ark.) to delay the physical markup session from Tuesday to Thursday, January 29, the political pathway is now clearer than it has been in months. By decoupling the unrelated banking fight from the crypto market structure bill, lawmakers have significantly increased the odds of advancing the legislation to the Senate floor.

Marshall Withdraws 'Swipe Fee' Amendment Under Pressure

The primary breakthrough involves the controversial Credit Card Competition Act (CCCA), which Senator Marshall and Senator Dick Durbin (D-Ill.) had attempted to attach to the crypto package. The amendment, aimed at breaking the Visa-Mastercard duopoly by mandating alternative payment routing networks, drew fierce opposition from the banking lobby and threatened to derail the entire crypto bill.

According to reports from Politico and sources on Capitol Hill, the White House intervened directly, with administration officials arguing that the swipe fee battle would effectively kill the crypto legislation's chances. "The message from the White House was clear: don't let a banking dispute sink a digital asset win," said one senior aide familiar with the talks. With the Trump administration eager to establish a "crypto-safe" regulatory environment before the 2026 midterms, the pressure to streamline the bill proved decisive.

Defining the Rules: SEC vs CFTC Jurisdiction

With the distraction of the Marshall amendment removed, the Senate Agriculture Committee can now turn its full attention to the substance of the Digital Commodity Intermediaries Act. The legislation seeks to resolve the longstanding regulatory turf war between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).

The bill would grant the CFTC "exclusive jurisdiction" over digital commodities, creating a new registration regime for crypto exchanges and broker-dealers that trade Bitcoin, Ether, and other assets deemed commodities. This legislative clarity is widely viewed as essential for the maturation of the US crypto market structure, which has suffered from enforcement-heavy regulation over the past few years.

Key Provisions on the Table

  • CFTC Authority: Establishes the CFTC as the primary regulator for digital commodity spot markets.
  • Consumer Protection: Mandates strict disclosures, segregation of customer funds, and capital requirements for intermediaries.
  • Registration Pathways: Creates a clear process for digital asset exchanges to register federally, preempting the patchwork of state money transmitter laws.

Remaining Hurdles: Stablecoins and Partisan Divides

Despite the withdrawal of the Marshall amendment, the path to a final vote is not entirely smooth. The committee must still navigate friction over stablecoin regulation. The banking lobby, represented prominently by the American Bankers Association (ABA), has raised alarms over provisions that would allow non-bank stablecoin issuers to pay "rewards" or yield to customers. Banks argue this creates shadow banking risks and an uneven playing field.

Additionally, while Chairman Boozman has pushed for a robust framework, Ranking Member Amy Klobuchar (D-Minn.) and other committee Democrats are expected to introduce amendments focused on stricter anti-money laundering (AML) controls and conflict-of-interest rules for crypto operators. The rescheduled Thursday markup will be a critical test of whether bipartisan consensus can hold against these remaining policy disagreements.

Outlook for US Crypto Regulation 2026

The postponement of the markup to Thursday due to the blizzard gives lawmakers an extra 48 hours to finalize the amendment roster. Industry observers remain cautiously optimistic. "Removing the credit card fee language is a massive tactical win," noted a policy analyst at a leading DC-based crypto advocacy group. "It shows that leadership is serious about getting a law on the books this session."

If the Senate Agriculture Committee successfully marks up and reports the bill out of committee this week, it will head to the Senate floor, where it will likely need to be reconciled with parallel efforts from the Senate Banking Committee. However, with the "swipe fee" poison pill neutralized, the crypto legislative markup process has cleared its most dangerous immediate obstacle.