U.S. Senate lawmakers are advancing efforts to establish a clear regulatory framework for crypto markets, marking a pivotal moment for digital asset oversight in the United States. Two Senate committees are preparing to debate competing versions of a long-anticipated market structure bill, setting the stage for negotiations that could determine how the industry is governed for years to come.
In brief
- •Two Senate committees advance competing crypto market structure bills, a major step toward clearer U.S. digital asset policy.
- •Agriculture and Banking Committees schedule markup hearings as lawmakers debate how crypto markets should be regulated nationwide.
- •Bipartisan talks continue as senators weigh consumer protections, innovation goals, and agency authority over digital assets.
- •Unresolved ethics and governance gaps could complicate bipartisan support for Senate crypto legislation in the weeks ahead.
Boozman Praises Bipartisan Cooperation as Bills Head to Markup
The Senate Agriculture Committee is expected to release its bill on January 21, followed by a markup hearing on January 27 at 3:00 p.m. Initially, the session was scheduled for January 15 but was postponed earlier this week. Markup hearings allow senators to debate provisions, propose amendments, and decide whether legislation should advance to the full Senate.
Meanwhile, the Senate Banking Committee is moving forward with its own markup hearing on Thursday. A draft of its proposal circulated late Monday night, though additional revisions are expected before lawmakers convene.
Sen. John Boozman said the revised timeline allows for greater transparency and careful review as lawmakers work toward clearer rules for crypto markets. He also commended Sen. Cory Booker for his bipartisan cooperation throughout negotiations.
I’m grateful to Senator [Cory] Booker, who continues to be a great partner, as well as to our staff for their hard work and dedication to create new rules to protect consumers while also supporting American innovation.
Sen. John Boozman
Despite this progress, several contentious issues remain unresolved, particularly around crypto governance and regulatory authority.
Governance Gaps Could Complicate Bipartisan Support for Senate Crypto Bills
Key questions include bordering regulatory authority and ethics:
- •Ethics rules related to Donald Trump and his family’s involvement in crypto ventures.
- •Quorum requirements for agencies overseeing digital assets.
- •The current leadership structure of the Securities and Exchange Commission.
- •Commissioner balance at the Commodity Futures Trading Commission.
- •Whether agencies should be required to operate under bipartisan control.
Neither committee’s draft includes explicit language addressing ethics standards or quorum requirements. Observers following the process say that omission could complicate efforts to secure bipartisan support, especially within the Banking Committee.