The Senate Agriculture Committee recently released an updated version of the crypto market structure bill, which will face a decisive debate next Tuesday. According to reporter Eleanor Terrett, negotiations between Republicans and Democrats failed to reach a bipartisan consensus, leaving Senator Cory Booker without formally endorsing the current text. Unlike the House version, this legislation is currently moving forward under Republican leadership, increasing political tension within the committee.
The impact of this regulatory framework is significant for the industry. It seeks to align regulation with the House’s “Clarity Act,“ protecting infrastructure developers and classifying meme coins as digital commodities. Additionally, it proposes granting the CFTC a funding mechanism through platform fees. Despite private sector support, the lack of Democratic backing could hinder its progress in the Senate, where other committees—such as the Banking Committee—have agendas delayed until March.
The “markup” or amendment session is scheduled for next Tuesday, where it will be seen if any last-minute Democratic support is finally secured. Investors should closely monitor the outcome of this vote, as it will define the pace of regulation in Washington and the legal clarity for exchanges like Coinbase. Meanwhile, legislative priorities regarding housing and the upcoming February recess could delay any final decision until the spring.
Source:https://x.com/EleanorTerrett/status/2014403215824191905
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