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The Senate Committee on Agriculture, Nutrition, and Forestry moved a crypto market structure bill forward on Wednesday, setting a markup for next Tuesday despite unresolved policy disputes. Chair John Boozman said the updated draft reflects months of stakeholder input, even as bipartisan support remains absent.
The decision was made just as the Senate started to focus on housing affordability bills that had the support of President Donald Trump. This was one of the factors that led to cooling off the crypto policy debate in the whole chamber.
Lawmakers now face diverging committee paths, since the Agriculture Committee plans action while financial regulators delay parallel work. This split raises questions about how quickly Congress can align competing approaches to crypto oversight. Will advancing without bipartisan backing speed progress or deepen legislative uncertainty?
Boozman acknowledged that differences remain on key policy issues but urged action after long negotiations. He said the draft reflects collaboration that improved the legislation, even without full agreement. As a result, the committee chose to proceed toward markup next week.
Earlier, Boozman noted progress in bipartisan talks, yet unresolved issues required more time. Despite that, the panel opted to release a working text to allow industry and lawmakers to review details. This step marks a shift from past efforts that stalled before reaching markup.
Meanwhile, Democrats may still shape the bill during the markup process. They can offer amendments before any Senate floor vote, should the bill advance. Later, lawmakers may also revise language when merging versions from different committees.
At the same time, the Senate Banking Committee has paused its own crypto market structure work. Multiple sources confirmed the panel will not revisit the issue soon after postponing a hearing last week. This delay contrasts sharply with the Agriculture Committee’s push forward.
Given both committees hold jurisdiction, the bill needs alignment to advance. The Banking Committee oversees broader financial system rules that intersect with crypto markets. Without its involvement, uncertainty surrounds the bill’s path through the Senate.
Disagreements between committees also reflect different regulatory priorities. Some contentious topics fall under Banking’s authority rather than Agriculture’s scope. Those gaps may resurface when lawmakers attempt to unify the legislation.
Read More: Senate Crypto Bill Draft Could Expand Institutional Access to XRP, Solana, Dogecoin
The Agriculture Committee’s draft carries the name Digital Commodity Intermediaries Act.
It focuses on regulating digital commodity intermediaries under the Commodity Futures Trading Commission. The text sets registration and compliance rules for trading platforms and related services.
In contrast, the House-backed CLARITY Act addresses broader asset classification questions. That bill seeks to define jurisdiction between the Securities and Exchange Commission and the CFTC. Both measures operate at different regulatory layers despite sharing a market structure label.
Debates over expanding the CFTC’s role continue amid resource constraints. The agency’s internal watchdog has flagged digital asset oversight as a risk due to limited staffing. These concerns persist as lawmakers weigh how far to extend regulatory authority.
The Senate Agriculture Committee has advanced a crypto market structure bill to markup despite stalled bipartisan talks. The move creates a working text focused on CFTC oversight while the Senate Banking Committee delays action. The bill’s progress now depends on amendments, committee alignment, and broader Senate support.
