The US Senate Agriculture Committee has approved the Digital Commodities Intermediary Act, a key piece of crypto market structure legislation. The vote on January 29 advances the bill to the full Senate after a markup session featuring numerous amendments. The legislation aims to establish a clearer regulatory framework for digital commodity intermediaries under the CFTC’s oversight.
The US Senate Agriculture Committee has approved its portion of digital asset market structure legislation. This moves the bill, titled the Digital Commodities Intermediary Act, closer to full Senate consideration after weeks of debate.
US Senator Cynthia Lummis confirmed the development, stating the committee’s vote brings the legislation “one step closer” to reaching the president’s desk as stated in her post on X. The approval followed a markup session held on Thursday, January 29 where lawmakers reviewed a wide-ranging set of amendments.
Clearing the committee marks a significant procedural milestone for the bill. The committee oversees commodities markets and the Commodity Futures Trading Commission [CFTC], placing it at the centre of regulatory debates.
The markup process included amendments that expanded the bill’s original focus. Proposals addressed ethics rules, national security restrictions, consumer protection, and limits on emergency federal lending.
Following committee approval, the bill can now be scheduled for debate in the full Senate. Further negotiations are expected around agency jurisdiction and enforcement authority.
The final version approved by the committee reflects the outcome of the amendment votes. Its ultimate impact will depend on how these amended provisions fare in the next legislative stage.
