{"id":17872,"date":"2025-11-11T03:02:44","date_gmt":"2025-11-11T02:02:44","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=17872"},"modified":"2025-11-11T03:02:44","modified_gmt":"2025-11-11T02:02:44","slug":"senate-agriculture-committee-unveils-draft-for-crypto-market-regulation","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/11\/11\/senate-agriculture-committee-unveils-draft-for-crypto-market-regulation\/","title":{"rendered":"Senate Agriculture Committee Unveils Draft for Crypto Market Regulation"},"content":{"rendered":"

“`html
\n<\/p>\n

\n

The US Senate Agriculture Committee has unveiled its eagerly anticipated discussion draft of cryptocurrency market structure regulations, moving Congress closer to enacting laws that delineate the oversight of the crypto industry.<\/p>\n

Republican Agriculture Chairman John Boozman and Democrat Senator Cory Booker issued<\/a> the draft on Monday, which features brackets around areas of the proposed legislation that lawmakers are still deliberating<\/a>.<\/p>\n

The legislation intends to clarify the limits of the Commodity Futures Trading Commission and the Securities and Exchange Commission\u2019s authority over crypto regulation. Only Congress has the power to determine the regulatory scope of these agencies, both of which have informally guided companies regarding crypto in light of the Trump administration\u2019s deregulation efforts.<\/p>\n

\u201cThe CFTC is the appropriate agency to supervise spot digital commodity trading, and it is crucial to establish clear regulations for the nascent crypto market while safeguarding consumers,\u201d Boozman remarked.<\/p>\n

Booker expressed that the discussion draft \u201cwould grant the CFTC new authority to oversee the digital commodity spot market, institute fresh protections for retail customers, and ensure the agency possesses the staff and resources needed to monitor this expanding market.\u201d<\/p>\n

Sections of the crypto bill still open for modification<\/h2>\n

The draft legislation describes standard crypto terminology such as \u201cblockchain,\u201d \u201cdecentralized finance,\u201d and decentralized autonomous organizations and how they would be governed under the Commodity Exchange Act.<\/p>\n

Much of the document is highlighted in brackets, signaling that it is open to amendments. One segment of the text notes the \u201cminority opinion\u201d \u2014 held by the Democrats in the committee \u2014 who argue that the Agriculture Committee lacks jurisdiction over specific elements and are eager to collaborate with the Senate Banking Committee to \u201caddress matters regarding noncontrolling blockchain developers and providers of blockchain services.\u201d<\/p>\n

An excerpt of a bracketed section of the draft bill delineates how the CFTC and SEC ought to collaboratively establish rules concerning crypto. Source: <\/em>Senate Agriculture Committee<\/em><\/a><\/figcaption><\/figure>\n

The Agriculture Committee is responsible for overseeing the CFTC, and the Senate Banking Committee is steering portions of the bill related to securities<\/a> regulations as it supervises the SEC.<\/p>\n

Related: <\/strong><\/em>Conclusion of US government shutdown ignites institutional buying, ETF \u2018floodgate\u2019 prospects<\/strong><\/em><\/a><\/p>\n

Republicans on the Banking Committee unveiled a discussion draft<\/a> regarding their section of the bill in July and indicated it would integrate with the CLARITY Act<\/a>, which the House approved in July, assigning the CFTC a pivotal role in crypto regulation.<\/p>\n

Crypto organizations support advancement<\/h2>\n

Ji Hun Kim, the CEO of the crypto advocacy group the Crypto Council for Innovation, stated that the publication of the draft bill \u201csignifies significant positive advancement towards creating a comprehensive, suitable market structure framework for digital commodities in the US.\u201d<\/p>\n