John Boozman, chair of the Senate Agriculture Committee, released an updated crypto market-structure bill on Wednesday and set committee markup for next Tuesday, as stated. The draft, titled the Digital Commodity Intermediaries Act, aims to regulate digital commodity intermediaries under the CFTC with new registration and compliance rules.
The release comes without bipartisan agreement after stalled negotiations and shifting Senate priorities. The measure builds on earlier discussion drafts, but the Senate Banking Committee has delayed its own work, increasing uncertainty about final passage.
Boozman acknowledged remaining divisions and said “differences remain on fundamental policy issues.” He also added “It’s time we move this bill, and I look forward to the markup next week.”
Industry and advisory voices urged progress while noting limits. Cody Carbone said “The momentum has not shifted,” and Patrick Witt called it “a question of when, not if.”
Observers warn about enforcement capacity at the agency (Ed. note: the CFTC has reported staffing and resource constraints). Seth Hallem added that “the CFTC wasn’t built to oversee on-chain markets using enforcement tools designed for traditional, intermediated finance.”
Donald Trump expressed public support, saying he hopes to sign the bill “very soon,” and adding this would help unlock new financial pathways for “Bitcoin, all of them.”
