Senate Democrats Push Amendments to Crypto Market Structure Bill Ahead of Key Hearing

Several U.S. Senate Democrats involved in negotiations over a major crypto market structure bill have formally filed proposed amendments, signaling a renewed effort to shape digital asset regulation as the legislation moves through Congress. The amendments were submitted on Friday in response to a draft bill introduced earlier this week by Republicans on the Senate Agriculture Committee, a proposal that advanced without Democratic sign-off and has already sparked partisan debate.

The bill, aimed at clarifying regulatory oversight of the cryptocurrency and digital asset market, is expected to be discussed in a Senate Agriculture Committee hearing scheduled for next week. However, close observers caution that the session could be delayed due to a major snowstorm forecasted to impact the Washington, D.C. area. Despite potential delays, the filing of amendments ensures that Democratic priorities are now officially part of the legislative record.

Among the key proposals is an amendment from Senator Michael Bennet that would prohibit the president and other senior government officials from profiting from involvement in the crypto sector, an effort framed as an anti-corruption measure. Senator Amy Klobuchar, the committee’s ranking Democrat, has introduced language requiring the Commodity Futures Trading Commission to have a full slate of commissioners in place before any new digital asset rules can take effect. Senator Richard Durbin has also proposed a ban on government bailouts of digital asset issuers, reflecting broader concerns about systemic risk and taxpayer exposure.

Republican lawmakers have submitted amendments as well, including a proposal from Senator Tommy Tuberville that would bar crypto platforms affiliated with foreign adversaries of the United States. These competing changes will be considered during the committee’s markup process, a critical step before a potential vote to advance the legislation to the full Senate.

Even if the Agriculture Committee approves the bill, the process is far from complete. The Senate Banking Committee must also pass its own version of the legislation, a task that has previously stalled amid intense debate. Only after both committees agree on the Digital Asset Market Clarity Act can the bill proceed to a full Senate vote, making the coming weeks pivotal for the future of U.S. crypto regulation.