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Exclusive: Key Republican senator removes roadblock to cr...
Burgess Ever · 2026-05-14 · via Semafor

Republican Sen. John Kennedy said in an interview on Wednesday that he will support a key cryptocurrency bill in the Senate Banking Committee, after striking a deal with Chair Tim Scott and meeting with President Donald Trump about moving the upper chamber’s housing bill.

The Louisiana Republican said Scott has agreed to add two of his amendments to the market structure legislation, which would overhaul federal regulation of digital assets and is one of the few major bipartisan bills that could make it to the president’s desk this year.

In return, Kennedy will vote to advance the bill — meaning regardless of what Democrats do in the committee it will move to the Senate floor for full consideration and avoid a committee bottleneck. Kennedy, who withheld his support for the proposal for months, has not indicated how he would vote at Thursday’s meeting on the legislation until now.

“Senator Scott’s been very accommodating, including a number of amendments I suggested,” Kennedy told Semafor. “I’m going to vote for the bill, and that means it’s going to come out” of committee.

If approved by the full Senate, the cryptocurrency legislation will still need to pass the House to make it to Trump’s desk.