CATENAA, Tuesday, November 11, 2025- The Senate Agriculture Committee on Monday unveiled its long-awaited draft legislation to regulate the cryptocurrency sector, granting new authority to the U.S. Commodity Futures Trading Commission while leaving several key issues unresolved.
The 155-page proposal, led by Sens. John Boozman, R-Ark., and Cory Booker, D-N.J., would define “digital commodities” and place them under CFTC jurisdiction.
The move builds on the House’s Digital Asset Market Clarity Act passed in July and reflects months of bipartisan talks over how to divide regulatory oversight between the CFTC and the Securities and Exchange Commission.
Under the Senate draft, the CFTC would oversee fungible digital assets transferable without intermediaries and recorded on public blockchains.
It also introduces a new funding stream for the agency, which lawmakers say lacks the resources to handle expanded responsibilities.
Brackets in the text mark areas still under negotiation, including funding mechanisms and conflict-of-interest provisions. Democrats have raised concerns about potential ethics violations linked to President Donald Trump’s reported $620 million in crypto holdings and ventures tied to his family.
Booker said he remains concerned about the CFTC’s staffing and funding capacity. Industry representatives, however, described the bill as an encouraging step toward clearer, risk-based regulation.
Crypto Council for Innovation CEO Ji Hun Kim called the draft “meaningful positive progress” for establishing stable rules that foster innovation and consumer protection.
