PANews reported on November 19th that, according to Crypto In America, on Tuesday morning, Senator Tim Scott, Chairman of the Senate Banking Committee, revealed a preliminary timeline for the Senate's push for cryptocurrency market structural reforms, providing clear information to the industry. In a television interview, Scott stated, "By the end of this year, that is, next month, we believe both committees will have completed their deliberations and votes, and the bill will be submitted to the full Senate for consideration early next year so that President Trump can sign it."

It remains unclear when the banking committee will release the revised bill text, but industry sources involved in the process say key sections are still being finalized. With lawmakers heading off to celebrate Thanksgiving tomorrow, the draft bill may not be released until December, or even shortly before deliberations. Meanwhile, following the Senate Agriculture Committee's release of its bipartisan draft last week, industry feedback on the draft is expected during Thanksgiving, and many believe it still has many unfinished parts. According to Scott's timeline, both the Senate Agriculture Committee and the Banking Committee plan to deliberate and vote next month, after which the two drafts will be merged into a single bill, aiming for a full Senate vote in early 2026. After passing the Senate, the bill will be sent back to the House for final approval, and then to President Trump for his signature.