- The Senate plans to release the crypto market bill this week to clarify digital asset rules.
- The CFTC will oversee commodities and spot markets while the SEC handles securities.
- Bill sets new compliance rules for stablecoins, DeFi, and digital asset trading.
The U.S. Senate Agriculture Committee is on the verge of releasing its updated Crypto Market Structure Bill. The bill seeks to explain the federal regulation of online resources. According to sources, the committee can issue the draft as early as this week, but the slightest amendments can delay it to next week.
The bill follows recent industry roundtables and renewed bipartisan negotiations. The Senate Agriculture and Banking committees have been working together to finalize regulatory boundaries and definitions. The measure aims to address the long-standing ambiguity surrounding the appropriate regulation of digital assets in the US.
Defining Digital Assets and Agency Roles
The bill proposes a structured classification system for digital assets. Categories include digital commodities, investment contract assets, and permitted payment stablecoins. This approach clarifies which federal agency has jurisdiction over each asset type. The Commodity Futures Trading Commission (CFTC) will regulate spot markets and digital commodities. The Securities and Exchange Commission (SEC) still has control over assets classified as securities.
Additionally, the updated version clarifies the expectations for compliance. Airdrops, DePIN protocols, and staking are no longer automatically treated as securities. The changes come after months of discussion to strike a balance between innovation and regulatory supervision.
Bipartisan Efforts and Industry Engagement
Bipartisan support has grown following separate roundtables with industry leaders. Earlier, twelve Democratic Senators confirmed bipartisan support for advancing the Clarity Act this year. Executives from major firms have participated, helping lawmakers understand operational realities. Discussions aim to synchronize federal oversight across both Senate committees. Lawmakers hope to provide exchanges, stablecoin issuers, and DeFi projects with a more predictable legal framework.
Earlier tensions arose when Democrats proposed new DeFi regulations through the CLARITY Act . Moreover, eight major U.S.-based crypto firms announced their support for new legislation to protect blockchain developers. Republican lawmakers and developers raised concerns that the measures could hinder open-source innovation. The current draft reflects compromises from both parties and is designed to accelerate legislative progress.
Oversight, Compliance, and Market Impact
The bill broadens the CFTC’s jurisdiction over derivatives and spot trading. It includes rules regarding transparency standards, risk management, and anti-manipulation measures. Stablecoins and DeFi projects must abide by laws intended to stop illicit activity. Analysts believe the law will clarify market operations and strengthen consumer protections.
The Agriculture Committee’s draft also aligns with previous House measures, creating a more unified federal approach. Coordination between committees could lead to a consolidated package before year-end. If released this week, the draft would mark a major step toward resolving years of fragmented digital asset policies.
