Senate Agriculture Committee to Release Crypto Bill Text Today
- The crypto bill will define digital commodities as blockchain-based assets used for value transfer, governance, or network fees.
- It grants the Commodity Futures Trading Commission (CFTC) primary authority over spot digital commodity markets.
- Three new registration groups under the CFTC for exchanges, brokers, and dealers will be established by this bill.
- The Senate Banking Committee’s draft maintains broader SEC discretion and introduces “ancillary assets” classification.
- Bipartisan support is evident, with the House passing the CLARITY Act by a vote of 294–134 in July.
- The Agriculture Committee’s markup is scheduled for January 27 at 3 PM ET, where amendments may be proposed.
The upcoming release of the crypto bill text aims to clarify regulatory oversight between the CFTC and SEC, addressing delays in negotiations from the Banking Committee’s approach. The structure allows for public review while maintaining flexibility before further legislative action.
With a markup set for January 27, key provisions regarding developers and decentralized finance remain in draft form, indicating potential revisions ahead of full Senate consideration. (Source)
