Senate Agriculture Committee Advances Crypto Market Structure Bill
- The Senate Agriculture Committee released a new draft of its crypto market structure bill last Wednesday.
- The bill primarily focuses on the CFTC and aims to regulate digital commodities.
- Concerns about partisanship arose as Senator John Boozman noted “fundamental policy differences” in negotiations with Senator Cory Booker.
- Proposed amendments from Democrats and some Republicans will be debated in a markup hearing scheduled for Tuesday at 20:00 UTC (3 PM ET).
- A section of the bill confirms that the CFTC must have a bipartisan quorum of commissioners before implementation.
This new legislation seeks to clarify how regulators like the Securities and Exchange Commission and CFTC will oversee cryptocurrency markets, addressing ongoing regulatory uncertainties.
With proposed amendments set for debate, the outcome of Tuesday’s markup could significantly impact the bill’s future, especially considering concerns over bipartisan support.(Source)
