Senate Agriculture Committee Advances New Crypto Market Structure Bill, Bypassing Bipartisan Negotiations

The U.S. Senate Committee on Agriculture, Nutrition, and Forestry has unilaterally released its own draft for a comprehensive digital asset market structure bill. This move marks a significant step in the legislative process but notably lacks bipartisan support from the outset. The proposed legislation aims to establish clearer regulatory frameworks for cryptocurrencies and digital commodities, seeking to define the roles of the CFTC and SEC. Industry observers note that while this advances the debate on Capitol Hill, the absence of cross-aisle collaboration could pose challenges for the bill's future passage. The development underscores the ongoing and complex efforts to regulate the evolving crypto market in the United States.