Senate Crypto Bill Advances Amid Unresolved Policy Divisions
The Senate Agriculture Committee unveiled an updated draft of its cryptocurrency market structure bill, marking progress while underscoring lingering partisan disagreements. Chair John Boozman acknowledged collaborative efforts but noted unresolved tensions around DeFi oversight, stablecoin treatment, and SEC-CFTC jurisdictional balance.
The revised legislation proposes enhanced consumer protections and expanded CFTC authority—a bid to bring regulatory clarity to digital assets. Yet critical fault lines remain, particularly regarding decentralized finance frameworks and the SEC's role in overseeing tokens with securities-like characteristics.
Next week's hearing will test whether legislators can bridge these divides before reconciling the bill with a separate version from the Banking Committee. The outcome could determine whether 2024 yields landmark crypto legislation or continued regulatory ambiguity.
