{"id":7011,"date":"2025-07-15T22:41:23","date_gmt":"2025-07-15T22:41:23","guid":{"rendered":"https:\/\/baiwp.com\/senate-agricultures-top-dem-crypto-market-structure-effort-needs-serious-changes\/"},"modified":"2025-07-15T22:41:23","modified_gmt":"2025-07-15T22:41:23","slug":"senate-agricultures-top-dem-crypto-market-structure-effort-needs-serious-changes","status":"publish","type":"post","link":"https:\/\/baiwp.com\/de\/senate-agricultures-top-dem-crypto-market-structure-effort-needs-serious-changes\/","title":{"rendered":"Senate Agriculture’s Top Dem: Crypto Market Structure Effort Needs ‘Serious Changes’"},"content":{"rendered":"

The Senate Agriculture Committee leapt into Congress’ negotiation over crypto’s market structure legislation with a hearing on Tuesday<\/a>, and its ranking Democrat, Senator Amy Klobuchar, outlined the significant changes she’d like to see before she’d embrace the effort to set up digital assets regulations.<\/p>\n

As the House potentially nears passage of its own market structure bill in the Digital Asset Markets Clarity Act (despite a procedural delay on Tuesday<\/a>), Klobuchar’s committee will need to sign off on its own legislation. And any major changes she and other Democrats are willing to pursue as a party could stretch the legislative process much longer than the Sept. 30 deadline<\/a> that Banking Committee Chairman Tim Scott has set.<\/p>\n\n

“We’re not going to be rolled here,” Klobuchar warned, calling for “some serious changes” to the regulatory proposals being discussed for U.S. crypto.<\/p>\n\n

She suggested the bill needs to better nail down the funding of regulators that’ll be tapped to oversee the rapidly growing new markets, should make a strong effort to protect consumers and needs to close off loopholes that you could “drive a truck through,” referring to the potential that existing securities regulations could be undermined.<\/p>\n\n

The committee’s Republican chairman, John Boozman, highlighted collaboration<\/a> with the Banking Committee and regulators. So far, the other committee is outpacing his in working on legislation. The Republicans there have publicly released a set of principles<\/a> they’re following on the bill, though they haven’t yet released a working draft.<\/p>\n\n

“We must act expeditiously to develop a comprehensive regulatory framework for the trading of digital commodities, but we must ensure we get this right,” Boozman said.<\/p>\n\n

While the Democrats are not in charge, many of their votes will be needed to clear the Senate’s 60-vote hurdle for most legislation. Similar policy desires have also been expressed by Senator Elizabeth Warren, Klobuchar’s Democrat counterpart in the Senate Banking Committee, though crypto-critic Warren is unlikely to become a partner in the negotiation. Klobuchar’s panel, though, has historically been more collaborative than Warren’s.<\/p>\n\n

On the major Senate vote on stablecoin legislation, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, Klobuchar was a no vote. Crypto advocacy group Stand With Crypto has given Klobuchar an “F” rating<\/a> for being against the industry.<\/p>\n\n

Read More: House’s Crypto Markets Bill on Track, But Some in Industry Hope For Senate Overhaul<\/a><\/em><\/strong><\/p>\n

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