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Members of the U.S. Senate Banking Committee are flooding a crypto-asset bill with sweeping amendments, sharply amplifying regulatory uncertainty.

Eleanor Terrett, host of Crypto America, said on X on the 13th (local time) that Senate Banking Committee members had filed as many as 137 amendments to the bill text released the previous day. This is interpreted as a sign that lawmakers have not narrowed their differences even up to the deadline.

The market views the mass filing of amendments as evidence that the bill’s direction and consistency are being significantly shaken. In particular, with numerous amendments being raised at once, analysis suggests that in the near term heightened caution around regulatory risk will make broader crypto-market volatility and a deterioration in investor sentiment unavoidable.

According to multiple sources, some amendments are expected to be discussed during the Banking Committee’s markup process scheduled for Thursday, but it remains unclear which amendments, if any, will be adopted. As a result, in the medium term the bill’s passage timeline could be delayed, while the possibility that less market-friendly provisions are included is coming into focus, likely weighing on the industry more broadly.

Over the longer term, concerns are also being raised that this episode could entrench the perception that the U.S. crypto regulatory framework is structurally unstable due to political conflict and clashes of interest. This could delay the inflow of institutional capital and undermine the credibility of U.S. regulation in the global crypto market, fueling worries that it could weaken long-term growth momentum.

(Not included in the summary.

1. 13:32 Initial publication

2. 13:37 Changed negatively using GPT)