Senate Agriculture Committee Releases Draft of Crypto Market Structure Bill to Define Oversight Roles

Highlights:

• The Senate Agriculture Committee has released a draft bill defining clear oversight roles for digital assets.
• Lawmakers are to debate sections of the Crypto Market Structure Bill as committees seek common ground.
• The Senate committees are moving forward to merge drafts and create a single framework for crypto market oversight.

The U.S. Senate Agriculture Committee has released its long-awaited draft on crypto market oversight. The draft’s purpose is to shed light on how the federal government regulates digital assets. Chair John Boozman and Senator Cory Booker are in charge of this bipartisan effort.

JUST IN: 🇺🇸 US Senate AG Committee releases crypto market structure draft bill. pic.twitter.com/D9wviMyn3E

— Watcher.Guru (@WatcherGuru) November 10, 2025

The proposed draft aims to clarify the roles of the Commodity Futures Trading Commission and the Securities and Exchange Commission. In the past few years, both agencies have given different advice, which has made the situation confusing for businesses that deal with digital assets. The new bill aims to make those roles clearer by creating a single legal framework.

Senator Boozman said the CFTC remains the right agency to regulate spot trading in digital commodities. He added that clear rules are vital to protect consumers and support the growing crypto market. Senator Booker emphasized that the bill gives the CFTC the authority, personnel, and resources needed to effectively oversee digital assets.

Senate Draft of Crypto Market Structure Bill Sparks Debate Over Jurisdiction

Several parts of the draft Crypto Market Structure Bill remain under review. Sections addressing concepts like blockchain, decentralized finance, and decentralized autonomous organizations are still being refined by lawmakers. The Commodity Exchange Act, which governs the CFTC’s operations, contains these definitions.

Several Democratic senators lead the minority opinion, which casts doubt on the Agriculture Committee’s complete authority over particular issues. They suggest collaborating with the Senate Banking Committee to guarantee impartial coverage of topics pertaining to the SEC. The Banking Committee, which has already published its own draft, is in charge of securities matters. Both committees will need to coordinate before any version moves forward.

The House of Representatives approved the CLARITY Act in July. The Act supports the objectives of the Senate’s proposal by giving the CFTC a key role in crypto regulation. Leaders in the industry have hailed this development as a step in the direction of fully integrated regulations. Ji Hun Kim of the Crypto Council for Innovation said the release marks progress toward a well-defined market framework. Mason Lynaugh from Stand with Crypto called it an important step toward building a clear, balanced oversight system.

The draft also includes a section on decentralized finance, which remains incomplete. Industry associations hope it will safeguard developers who create software without having control over user funds.

Lawmakers Eye Next Steps as Crypto Oversight Talks Continue

The release of the draft indicates definite progress, but it is unclear how it will be approved in the end. Lawmakers anticipate more discussions as committees combine their drafts into a single version. Ron Hammond from Wintermute said both committees may pass their versions by the end of the year. However, it will require careful negotiation and time to merge them.

The Crypto Legislation Showdown is Here! Will the CLARITY Act Pass?

WATCH ▶️ https://t.co/G3zQRGfICV

Ron Hammond, Head of Policy and Advocacy at Wintermute, joined me to discuss the latest developments on the crypto market structure bill in the Senate.

Topics:
– Current… pic.twitter.com/Ymz0DUdqfA

— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) September 26, 2025

There is still disagreement among Senate Banking Committee members regarding certain details. Budget disputes have also delayed progress in both chambers of Congress. Still, the Agriculture and Banking Committees plan to align their efforts and produce a comprehensive bill. Once complete, the proposal will move to the Senate floor for a vote.