Republican Senator Roger Marshall has quietly decided to step back from a controversial move just as a major crypto bill heads toward a critical moment in the Senate.
According to reports, Marshall has agreed not to push an amendment on credit card swipe fees when the Senate Agriculture Committee takes up a sweeping crypto market structure bill next week.
The decision appears to ease tensions around a bill that’s already walking a political tightrope.
The Amendment That Almost Derailed the Process
Just days ago, Marshall had filed an amendment that would have forced credit card companies to compete on swipe fees.
While the proposal had support from some corners of the Senate, it also raised red flags.
Behind closed doors, Marshall later agreed to hold it back, Politico reported, citing sources familiar with the discussions.
The move suggests an acknowledgment that the amendment could complicate — or even stall — the broader crypto legislation.
Weather, Delays, and a New Markup Date
Originally, the Senate Agriculture Committee planned to mark up the crypto bill on Thursday.
That timeline shifted when a massive winter storm swept across much of the US, freezing travel and slowing down Washington itself.
The committee has now rescheduled the markup for Tuesday, February 3, giving lawmakers more time — and perhaps more breathing room — to align their positions.
Why This Crypto Bill Matters So Much
At its core, the crypto market structure bill is designed to clarify how US financial regulators oversee the digital asset industry.
It aims to define who regulates what, and how, in a sector that has long operated in a gray area.
But progress has been anything but smooth.
Both the Senate Agriculture and Banking Committees have repeatedly pushed back markups as leaders try to build enough bipartisan support to move forward.
White House Pressure Behind the Scenes
According to Politico, the White House has been actively involved in discussions surrounding the markup.
One source suggested Marshall’s swipe-fee amendment could have “jeopardized” the bill entirely.
With the administration eager to see the legislation advance out of committee, there was little appetite for provisions that might fracture fragile alliances.
A Rare Alliance — and a Familiar Divide
Marshall’s amendment wasn’t without backing.
Democratic Senators Dick Durbin and Peter Welch supported the idea, framing it as a consumer-friendly push.
Still, several Republicans resisted, warning that it could spark a fight between financial institutions and major retailers — a battle few wanted attached to an already complex crypto bill.
Politics Looming Over Every Decision
Timing is everything. The debate is unfolding as the US edges closer to a potential partial government shutdown, with Democrats signaling opposition to a short-term funding deal.
At the same time, Republicans are eager to notch legislative wins ahead of the midterm elections.
Current polling suggests Democrats have the upper hand, and betting markets like Polymarket are giving them strong odds to retake the House — adding urgency to every policy calculation.
Competing Visions Inside the Senate
The crypto bill has become a magnet for amendments across both committees.
Lawmakers have floated ideas touching on ethics rules, conflicts of interest, and tighter restrictions on stablecoins.
Meanwhile, Senate Agriculture Republicans released their own version of the bill last week, which lacked Democratic support but included language aimed at protecting crypto software developers.
What’s Happening on the Banking Side
The Senate Banking Committee still hasn’t locked in a new date for its markup.
Reports suggest it could slip into late February or even March, as the committee shifts attention toward advancing the Trump administration’s affordability agenda.
That delay only adds another layer of uncertainty to the crypto bill’s path forward.
The Bigger Picture for Crypto Policy
All of this underscores how fragile the legislative process remains for digital assets in Washington.
One amendment, one storm, or one political misstep can change the trajectory entirely.
For now, Marshall’s decision to stand down may have bought the crypto bill some valuable momentum — but the road ahead is anything but clear.
What’s Next?
With the swipe-fee amendment temporarily sidelined, attention now turns to the rescheduled markup and whether lawmakers can keep the bill intact long enough to push it through committee.
The next few weeks will likely determine whether this long-awaited framework for crypto regulation finally moves forward — or gets stuck in the same cycle of delays and political trade-offs.
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