U.S. Senate Agriculture Committee Nears Release of Updated Crypto Market Structure Bill

The U.S. Senate Agriculture Committee has finalized an updated draft of the crypto market Structure Bill, with release expected imminently. Industry sources indicate publication could occur this week or early next, following last-minute adjustments. The bipartisan legislation seeks to clarify regulatory oversight for digital assets, dividing authority between the CFTC for commodities and the SEC for securities.

Three distinct asset classifications emerge in the bill: digital commodities, investment contract assets, and permitted payment stablecoins. Notably, the September draft eliminated automatic securities classification for staking rewards, DePIN projects, and airdropped tokens—a MOVE likely to reshape compliance strategies across the sector.

Market participants anticipate the updated framework could accelerate institutional adoption by reducing regulatory ambiguity. The commodities-focused provisions, handled by the Senate Agriculture Committee, FORM a critical component of the broader legislative effort to establish coherent rules for blockchain-based assets.