Crypto Market Structure Bill Advances Through Senate Agriculture Committee, No Democrats Vote In Favor
The Senate Agriculture Committee advanced a crypto market structure bill in a 12-11 party-line vote, with all Democrats opposing it.Summary
The U.S. Senate Agriculture Committee voted 12-11 along party lines to advance its version of cryptocurrency market structure legislation, a significant step toward comprehensive digital asset regulation.
All Democrats opposed the measure, citing fundamental disagreements over ethics provisions, consumer protections, and the independence of the Commodity Futures Trading Commission (CFTC). Chairman Sen. John Boozman (R-Ark.) emphasized the need to establish a regulatory regime for digital commodity intermediaries under CFTC oversight, building on previous bipartisan drafts.
Democratic Senators, including Cory Booker and Amy Klobuchar, expressed that the final text deviated from the earlier bipartisan agreement, particularly concerning ethics safeguards and consumer protections. Several Democrat-led amendments addressing ethics restrictions for officials and enhanced consumer safeguards failed during the markup. The bill now faces a long procedural path in the Senate and must eventually be reconciled with the House's Digital Asset Market CLARITY Act of 2025 before reaching the President's desk.
(Source：Bitcoin Magazine)