Senate Committee Finalizes Updated Crypto Market Structure Bill Draft, Release Expected In Days

The U.S. Senate committee is set to release an updated draft of the Crypto Market Structure Bill. The legislation seeks to bring clarity to digital asset regulation. 

Updated Crypto Market Structure Bill Draft Set for Release in Days

The market bill is edging closer to public release as the U.S. Senate Agriculture Committee finalizes the commodities section of its bipartisan draft. 

According to journalist Eleanor Terrett, the committee could unveil the updated version as early as this week. However, she shared that some insiders suggest the release might spill into next week due to final adjustments.

This also follows last week’s industry roundtables and the resumption of bipartisan negotiations between Senate Banking Committee staffers.

The bill establishes a new regulatory framework for digital assets. The Commodity Futures Trading Commission (CFTC) will manage digital commodities and spot markets. The Securities and Exchange Commission (SEC) will keep control over assets classified as securities.

The legislation also introduces a structured classification system for digital assets. This includes digital commodities, investment contract assets, and permitted payment stablecoins. This structure is intended to clarify which federal agency has jurisdiction and to establish compliance expectations.

The Crypto Market Structure Bill has also regularly been updated by lawmakers. The new version provides clearer definitions and protections for digital assets. In September, the Senate committee released an updated draft that includes important changes. Staking, DePIN, and airdrops will no longer be automatically treated as securities under this update.

Senate Committees Revive Bipartisan Negotiations

Momentum around the Crypto Market Structure Bill has grown after months of partisan tension. Discussions were briefly put on hold when Senate Democrats introduced new DeFi regulations through the CLARITY Act.

DeFi protocol deployers were to be categorized as intermediaries, according to the proposal.  Republican lawmakers and developers criticized this action, claiming it could make open-source innovation illegal.

However, both parties have recently shown a willingness to compromise following separate roundtable meetings that included key industry figures, including executives from Coinbase and Ripple. Sources familiar with the talks said that lawmakers were “determined to make faster progress” and to produce a bill that supports innovation.

Amid these developments, Coinbase CEO Brian Armstrong expressed optimism that the bill could be finalized by the end of the year. Speaking from Capitol Hill, Armstrong noted that lawmakers from both parties are “90% aligned” on the bill’s core framework.