The Senate Agriculture Committee announced Tuesday that it will publish its crypto market structure bill on Jan. 21 and hold a markup hearing on Jan. 27 at 3:00 p.m. The hearing was originally scheduled for Jan. 15 but was postponed on Monday.
The markup hearing will represent a critical step in advancing cryptocurrency legislation. During the session, lawmakers will debate proposed amendments, vote on whether to include them in the bill’s base text, and determine whether to advance the overall legislation to the full Senate.
Committee Chairman Senator John Boozman said in a statement that the revised schedule “ensures transparency and allows for thorough review as the committee moves forward with legislation to provide clarity and certainty for crypto markets.”
Boozman also thanked Senator Cory Booker, the lead Democrat on the committee’s crypto negotiations, and acknowledged the staff’s efforts. “We’re focused on creating new rules to protect consumers while also supporting American innovation,” he said.
The Agriculture Committee has not released a draft text since its initial discussion draft, leaving several key issues unresolved. These include ethics provisions related to President Donald Trump and his family’s ties to various crypto businesses, as well as quorum rules requiring regulators to maintain bipartisan leadership.
Currently, both the Securities and Exchange Commission and the Commodity Futures Trading Commission are headed solely by Republican commissioners, creating potential obstacles to bipartisan support.
The Senate Banking Committee is advancing its own version of the crypto market structure bill. That committee is holding its markup hearing this Thursday. A draft of the Banking Committee’s version was released near midnight Monday, though lawmakers are expected to propose amendments before the hearing.
The Banking Committee’s draft similarly does not include language addressing ethics concerns or quorum requirements. According to sources tracking the legislation, the current version may lack bipartisan support as a result.
The competing bills represent efforts by two Senate committees to establish comprehensive regulatory frameworks for cryptocurrency markets. The Agriculture Committee’s focus on commodities and the Banking Committee’s focus on financial regulation have created parallel legislative tracks.
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Both committees are working to balance consumer protection with support for the cryptocurrency industry. The proposed legislation aims to provide regulatory clarity for digital asset markets, which have grown significantly in recent years.
The markup process is expected to surface disagreements between committee members over specific provisions. Key debates are anticipated around how to handle political figures’ crypto holdings and whether regulators should maintain balanced party representation.
The Jan. 27 Agriculture Committee hearing will determine whether the committee advances its version of the bill to the full Senate. Success in markup would position the Agriculture Committee’s bill to compete with the Banking Committee’s version in subsequent legislative proceedings.
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