State of Crypto: What's In the New Crypto Market Structure Draft?

The Senate Agriculture Committee released a draft market structure bill detailing how the Commodity Futures Trading Commission (CFTC) would oversee digital commodities, marking a key step toward potential legislation. The draft includes bracketed sections indicating areas of disagreement between Republicans and Democrats, such as specific definitions and rulemaking directions for the CFTC. Committee Chair John Boozman emphasized the need to equip the CFTC with the necessary tools for this expanded role, while Sen. Cory Booker expressed concerns about resource allocation and preventing regulatory arbitrage. Industry representatives cautiously welcomed the progress. The path forward is complex, requiring agreement between this draft and the Senate Banking Committee's version, followed by reconciliation before a Senate vote and eventual consideration by the House of Representatives, likely pushing final passage well into 2026.

(Source：CoinDesk)