According to the source, shares of Robinhood (HOOD) and Coinbase (COIN) fell 7.8% and 6.5%, respectively, after the U.S. Congress delayed crypto market structure legislation on January 15, 2026. The source attributes the declines to the legislative delay, underscoring regulatory headlines as the immediate catalyst for the two crypto-exposed stocks.

According to the source, a public X post on Jan 15, 2026 states that Senate Democrats from the Banking and Agriculture Committees plan to meet with crypto industry representatives to relaunch talks on crypto market structure legislation, source: public X post dated Jan 15, 2026. This is trading-relevant because the Senate Banking Committee oversees the SEC and the Senate Agriculture Committee oversees the CFTC, the two agencies central to digital asset classification and spot market oversight that influence exchange compliance and token listings, source: U.S. Senate Committee on Banking, Housing, and Urban Affairs — Jurisdiction; U.S. Senate Committee on Agriculture, Nutrition, and Forestry — Jurisdiction. Market participants closely track U.S. legislative developments on market structure, as policy signals from these committees shape regulatory clarity that traders monitor for potential impacts on BTC, ETH, and U.S.-listed crypto equities liquidity and volatility, source: Congressional Research Service, Cryptocurrency policy overview and market structure analyses.

According to Jake Chervinsky, a markup at the U.S. Senate Banking Committee starts at 10 am ET on Thursday with 137 amendments filed, signaling a long session. Source: Jake Chervinsky on X, Jan 14, 2026; U.S. Senate Committee on Banking, Housing, and Urban Affairs hearing page. He emphasized that market structure legislation is critical for the future of crypto and urged stakeholders to pay attention. Source: Jake Chervinsky on X, Jan 14, 2026. For traders, this creates a defined headline window beginning 10 am ET Thursday for potential updates on U.S. crypto policy emerging from the committee proceedings. Source: Jake Chervinsky on X, Jan 14, 2026; U.S. Senate Committee on Banking, Housing, and Urban Affairs hearing page.

According to the source, Senate Banking Committee Chair Sen. Tim Scott confirmed a markup hearing on crypto market structure legislation for next Thursday, establishing a formal committee session to consider and amend the bill, source: Sen. Tim Scott; U.S. Senate Banking Committee. A markup is an official step in the Senate legislative process ahead of a committee vote and potential advancement to the full chamber, which makes the scheduled hearing a defined policy catalyst for U.S. digital asset market structure, source: U.S. Senate. Traders should note the committee calendar for next Thursday as event risk for U.S. crypto regulation, as the session will determine whether the measure advances out of committee, source: U.S. Senate Banking Committee.

According to @WatcherGuru, U.S. Senator Cynthia Lummis called on Congress to pass crypto market structure legislation. The post provides no bill name, timeline, or market data. Source: Watcher.Guru on X, Jan 2, 2026.

According to @EleanorTerrett, a press representative for Sen. Cynthia Lummis said the senator will spend the remainder of her term focused on getting crypto market structure legislation over the finish line and highlighted her years of work to install commonsense guardrails for the digital asset industry. source: @EleanorTerrett on X, Dec 19, 2025. For trading strategy, monitor official updates from Sen. Lummis’ office and congressional scheduling tied to market structure legislation, as market participants closely track policy developments that define digital asset market structure. source: @EleanorTerrett on X, Dec 19, 2025.

According to the source, Coinbase CEO Brian Armstrong said momentum for U.S. crypto market structure legislation is at an all-time high. Armstrong said he sat down with Senate Democrats and Republicans who want to pass the legislation and stated, "we're 90% there." Armstrong’s remarks indicate advanced bipartisan talks on market-structure rules that traders monitor for headline risk timing, based on his statement.

According to the source, CEOs from Coinbase, Chainlink, Galaxy, Kraken, and Uniswap will meet with pro-crypto Senate Democrats on Wednesday to discuss crypto market structure legislation, Eleanor Terrett reported. The report specifies both the participant list and the agenda as market structure legislation with the meeting set for Wednesday, Eleanor Terrett reported.

According to @EleanorTerrett, pro-crypto Senate Democrats will host a Wednesday roundtable led by Senator Kirsten Gillibrand to discuss crypto market structure legislation and the path forward; source: @EleanorTerrett on X, Oct 20, 2025. According to @EleanorTerrett, expected attendees include Coinbase CEO Brian Armstrong, Chainlink CEO Sergey Nazarov, Galaxy CEO Mike Novogratz, Kraken CEO David Ripley, Uniswap CEO Hayden Adams, Solana Policy Institute President K.M. Smith, Circle CSO Dante Disparte, Ripple CLO Stuart Alderoty, Jito CLO Rebecca Rettig, and a16z crypto General Counsel Miles Jennings, with others possibly added; source: @EleanorTerrett on X, Oct 20, 2025. According to @EleanorTerrett, the meeting follows stalled negotiations with Republican counterparts after fallout and industry backlash over a leaked Democratic proposal to regulate DeFi; source: @EleanorTerrett on X, Oct 20, 2025.

According to Jake Chervinsky, the CFTC is currently in a holding pattern pending the confirmation of Quintenz as chair, after which traders can expect significant progress on new rules impacting key crypto sectors such as perpetuals, 24/7 trading, prediction markets, and DeFi protocols and front-ends (source: Jake Chervinsky on Twitter, May 14, 2025). These regulatory advancements may increase market transparency and compliance requirements, affecting trading strategies and liquidity across major crypto assets. Additional regulatory clarity could arrive if broader market structure legislation is passed, impacting both centralized and decentralized trading venues.