Crypto Market Bill Heads to Senate Agriculture Markup Amid Banking Committee Delays
Senate Agriculture Chair John Boozman released a revised crypto market structure bill, announcing it would advance to committee markup next week despite lacking bipartisan support. Negotiations with Democrats stalled as Senate attention shifted to other legislative priorities. The Senate Banking Committee has postponed its own crypto efforts, leading to uncertainty about the bill’s future. The draft, called the Digital Commodity Intermediaries Act, aims to regulate digital commodity intermediaries under CFTC oversight, establishing registration and compliance rules for crypto trading platforms. The House’s Clarity Act takes a broader approach to asset classification and regulatory jurisdiction between the SEC and CFTC. Industry leaders maintain momentum for crypto regulation remains, with calls for prompt legislative action and President Trump expressing support for the effort. However, concerns persist about the CFTC’s capacity to effectively oversee crypto markets, given staffing constraints and the unique challenges of on-chain autonomous financial systems that may require new compliance methods beyond traditional regulatory tools.
