Days of our market structure bills: State of Crypto

The Senate Agriculture Committee released a new draft of its crypto market structure bill, intended to define regulatory oversight by the CFTC and SEC. However, the bill appears to be facing partisan challenges, with Republican Chair John Boozman acknowledging "fundamental policy differences" with lead Democrat Cory Booker, despite efforts to make it more bipartisan than the Banking Committee's version. Democrats and some Republicans have filed numerous amendments for the upcoming markup hearing, where provisions like legal protections for developers and CFTC commissioner quorum rules will be debated. The industry generally seems unconcerned with the text itself, but the bill's advancement remains uncertain, potentially relying on bipartisan amendments, Democratic votes persuaded by PAC pressure, or advancing purely along party lines. Furthermore, the hearing's timing is threatened by a major East Coast snowstorm and the looming government funding deadline.

(Source：CoinDesk)