The U.S. Senate Banking Committee has scheduled a vote for May 14 on significant cryptocurrency legislation that has been under development for an extended period.

The committee will consider what multiple sources describe as a major crypto bill, marking a key step forward in efforts to establish a comprehensive regulatory framework for digital assets in the United States.

The legislation represents one of the most substantial attempts by Congress to address cryptocurrency regulation, an area that has lacked clear federal guidance despite the growing prominence of digital assets in financial markets.

The timing of the committee vote signals potential momentum for crypto-related legislation in the current congressional session. The Banking Committee's consideration of the bill will determine whether it advances to a full Senate vote.

Details about the specific provisions of the legislation and its scope were not immediately available from the sources announcing the scheduled vote.