Senate Democrats Slam GOP as Crypto Market Bill Advances

• Across the markup, the Democrats pressed on ethics provisions and surged engagement among the parties. 
• Proponents have also mentioned that the bill would make clear which regulator manages what, make registration rules on intermediaries, and include protection of consumers.

Senate Democrats have accused Republicans of walking away from long-running bipartisan negotiations as a crypto market structure bill was reviewed in the Senate Agriculture Committee at the time of a business meeting. 

Finally, the panel voted to proceed with the digital assets bill on a 12-11 party-line vote, having no Democratic support. The bill is focused on shifting the U.S. crypto regulations from an enforcement-first model to clearer statutory guidelines. 

It would have the Commodity Futures Trading Commission having main observation over digital commodity spot markets of virtual assets such as BTC and ETH. It also leaves the Securities and Exchange Commission the authority to control the sale of virtual assets as investment contracts. 

More Clearer Picture

Proponents have also mentioned that the bill would make clear which regulator manages what, make registration rules on intermediaries, and include protection of consumers, like asset segregation and disclosure rules. 

Across the markup, the Democrats pressed on ethics provisions and surged engagement among the parties. Senator Cory Booker revealed legislators aren’t capable of developing rules to criminalise software writing by mistake, yet self-custody and open-source codes were required components of a viable scheme. 

Booker also protested that the recent version of the draft wasn’t similar to the bipartisan version to be negotiated with Committee Chairman John Boozman at the end of 2025, accusing the involvement of political pressure and the White House of complicating the talks. 

A lot of revision involving ethical issues didn’t leave. A motion to limit elected officeholders from having or making money on digital property at the time of their term was advised by Senator Michael Bennet and was voted down 12-11. 

A provision offered by Senator Dick Durbin looks to prohibit federal agencies from offering financial assistance to crypto intermediaries that plunge into bankruptcy. The same revision was also rejected, as Boozman states that the bill doesn’t give authority to bailouts in the first place. 

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