A bipartisan effort in the Senate to create a crypto market structure is facing challenges, as Senate Agriculture Chair John Boozman released an updated bill that has seemingly created a political split. The bill, which includes provisions for CFTC authority over "digital commodities" and consumer protections, has not yet been shared with all relevant parties, according to reports. The updated text includes definitions, rulemaking, and registration requirements for "digital commodity intermediaries" and introduces a "software developer protections" section. A committee markup is scheduled for next week, but the path forward remains uncertain due to the emerging partisan divide.

A bipartisan effort in the Senate to create a crypto market structure is facing challenges, as Senate Agriculture Chair John Boozman released an updated bill that has seemingly created a political split. The bill, which includes provisions for CFTC authority over "digital commodities" and consumer protections, has not yet been shared with all relevant parties, according to reports. The updated text includes definitions, rulemaking, and registration requirements for "digital commodity intermediaries" and introduces a "software developer protections" section. A committee markup is scheduled for next week, but the path forward remains uncertain due to the emerging partisan divide.