"In a narrowly divided party-line vote, The U.S. Senate Agriculture Committee advanced its version of crypto market legislation in a 12-11 vote Thursday, marking a milestone in congressional efforts to finally legislate comprehensive crypto market structure rules. All Democrats on the committee opposed the motion, citing substantive disagreements over ethics provisions, consumer protections, and the independence of the Commodity Futures Trading Commission (CFTC). Chairman Sen. John Boozman (R-Ark.) opened the markup by touting months of negotiations and "substantive, cordial conversations," but acknowledged that "fundamental policy disagreements" remain."
""Now it's time to move this process forward," Boozman said, emphasizing the need to flesh out a regulatory regime for digital commodity intermediaries - including exchanges, brokers, dealers, and custodians - under the CFTC's oversight. This discussion emerged from the Agriculture Committee's updated legislative text released on January 21, which builds on a bipartisan discussion draft issued in November and on the House-passed Digital Asset Market CLARITY Act of 2025."
The Senate Agriculture Committee advanced a crypto market bill in a 12-11 party-line vote, assigning oversight of spot markets for digital commodities to the Commodity Futures Trading Commission. Democrats opposed the measure over provisions related to ethics, consumer protections, and the CFTC's independence. The bill updates a bipartisan discussion draft and aligns with the House-passed Digital Asset Market CLARITY Act of 2025. Committee leadership emphasized ongoing negotiations but acknowledged unresolved policy disputes. The legislation seeks to define regulatory roles between the CFTC and the Securities and Exchange Commission, and to impose rules on exchanges, brokers, dealers, and custodians of digital commodities.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]