Senate Ag. to Release Crypto Bill Text Today Ahead of Jan. 27 Markup: What to Know

The Senate Agriculture Committee will release the crypto bill text today, ahead of a January 27 markup. The bill outlines how Congress plans to split crypto oversight between the CFTC and the SEC, which differs from the Senate Banking Committee’s crypto framework.

Senate Ag. To Release Its Part Of The Crypto Bill Today

Chairman John Boozman scheduled the release to accelerate negotiations after delays stalled the Banking Committee’s bill.The crypto bill gives the Commodity Futures Trading Commission primary authority over spot digital commodity markets.

Notably, it defines digital commodities as blockchain-based assets used for value transfer, governance, or network fees. These assets fall outside the SEC’s securities definitions, except when sold under investment contracts.

By contrast, the Senate Banking Committee’s draft keeps broader discretion with the SEC. It introduces “ancillary assets,” which the SEC may classify as non-securities on a case-by-case basis. However, that approach limits automatic CFTC jurisdiction and relies on inter-committee coordination to resolve regulatory overlaps.

The Agriculture Committee’s bill sets up three new registration groups under the CFTC for exchanges, brokers, and dealers. In contrast, the Banking Committee’s draft does not focus on creating new CFTC categories. Instead, it leans toward SEC oversight and fitting crypto rules into existing securities laws.

Bipartisan Support and Ongoing Tensions

Bipartisan support is evident, though negotiations continue. The House passed the CLARITY Act in July 2025 by a 294–134 vote, including 78 Democrats. In the Senate, Banking Committee Chairman Tim Scott cited bipartisan talks involving Senators Mark Warner, Raphael Warnock, and Cynthia Lummis.

However, progress slowed after the Banking Committee postponed its January 15 markup indefinitely. Coinbase withdrew support over provisions affecting stablecoin yields and privacy. White House crypto advisor Patrick Witt today criticized the withdrawal, warning that delays could invite stricter future regulation.

Still, industry views differ. Ripple CEO Brad Garlinghouse called the bill a major step toward workable crypto frameworks. Meanwhile, SEC Chair Paul Atkins publicly supported bipartisan market structure legislation, citing long-term regulatory stability goals.

What Next After January 27 Markup

The Agriculture Committee’s January 27 markup at 3:00 PM ET. Senators may propose amendments, debate jurisdictional language, and vote on advancing the bill. If approved, the measure moves to the full Senate for consideration.

Importantly, sections covering developers, decentralized finance, and anti-money laundering remain in draft form. That structure leaves room for late-stage revisions. According to Chairman Boozman, the schedule allows public review while preserving flexibility before floor action.

The Digital Asset Market Clarity Act text release sets the pace for negotiations between the Agriculture and Banking Committees. It clarifies regulatory contrasts, confirms bipartisan engagement, and outlines the procedural path following the January 27 markup. The coming days will determine whether amendments align both Senate approaches before the broader debate begins.