Updated Crypto Bill Text Released by Senate Panel, Highlighting Unresolved Differences

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The US Senate Agriculture Committee has unveiled the latest text of a bill aimed at structuring the crypto market. The release comes ahead of a planned hearing, though the committee chair notes ongoing disagreements on key points.

In a Wednesday evening statement accompanying the draft, Republican Chair Sen. John Boozman detailed his work with Democratic Sen. Cory Booker. Their efforts focused on advancing consumer protections and providing new authority to the Commodity Futures Trading Commission, but Boozman acknowledged that fundamental policy differences persist.

This draft succeeds a preliminary 155-page discussion draft released by the committee in November. That version, which proposed new authority for the Commodity Futures Trading Commission over digital assets, was filled with bracketed text marking areas of disagreement.

Key areas left unresolved in the earlier draft included how to approach decentralized finance regulation, the parameters for joint rulemaking between the Commodity Futures Trading Commission and the Securities and Exchange Commission, and policies governing stablecoins.