Senate Agriculture Committee Demands Major Revisions to Crypto Market Structure Bill

Senator Amy Klobuchar, the top Democrat on the Senate Agriculture Committee, has called for substantial changes to proposed cryptocurrency market structure legislation. During a Tuesday hearing, Klobuchar emphasized the need for stronger consumer protections, clearer regulator funding mechanisms, and the closure of regulatory loopholes that could undermine existing securities laws.

The legislative push comes as the House nears potential passage of its Digital Asset Markets Clarity Act, though procedural delays have emerged. Klobuchar's committee must approve its own version, with Democratic demands potentially extending negotiations beyond Banking Committee Chairman Tim Scott's September 30 deadline.

"We're not going to be rolled here," Klobuchar warned, signaling a tough negotiation ahead. Committee Chairman John Boozman (R-AR) highlighted ongoing collaboration with banking regulators, though the Banking Committee currently leads in legislative progress.