Crypto Regulatory Bill Markup Delayed in Senate Committee

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A markup for a major cryptocurrency market structure bill has been postponed by the US Senate Agriculture Committee. The committee is pushing its session to the final week of January, citing a need for more time to secure wider legislative support.

In a statement on Monday, Committee Chairman John Boozman emphasized his goal of achieving a bipartisan agreement. He reported constructive discussions and progress but concluded that more time is required.

“To finalize the remaining details and ensure the broad support this legislation requires, additional time is needed before moving to markup,” Boozman stated. The new timeline sets the committee’s markup for the last week of January.

The anticipated legislation is significant as it would clarify how US market regulators—the SEC and the CFTC—oversee the cryptocurrency sector.

The Agriculture Committee, which has jurisdiction over the CFTC, had originally planned its markup for this Thursday to coincide with one by the Senate Banking Committee. The Banking Committee, overseeing the SEC, is still moving forward. This Senate bill is a separate piece of legislation from the House-passed CLARITY Act due to congressional procedural rules.