The new draft bill aims to define the regulatory framework for crypto markets, but partisan divisions may threaten its passage in the Senate.
The Senate Agriculture Committee has released a draft of the crypto market structure bill, aiming to reshape U.S. digital asset regulations. The bill focuses on the Commodity Futures Trading Commission's role in overseeing digital commodities but faces partisan challenges, with some members fearing its passage may be jeopardized. Amendments have been filed and will be debated next week, while a winter storm threatens to disrupt proceedings. Key concerns include legal protections for developers and the composition of the CFTC’s leadership.