The committee’s portion of the so-called crypto market structure bill has been the subject of great anticipation in the crypto world. The Senate Agriculture Committee on Monday released a much-anticipated discussion draft of its portion of a sweeping bill that would overhaul how cryptocurrencies are regulated, inching the chamber closer to advancing the legislation. The draft, which would overhaul regulations affecting digital asset commodities, was unveiled by Agriculture Chair John Boozman (R-Ark.) and Sen. Cory Booker (D-N.J.), a member of the panel who has been negotiating with Republicans over the issue. The text included several sections in brackets that remain the subject of negotiations, indicating that lawmakers still have sticky issues to sort out. Senate Agriculture’s portion of the so-called crypto market structure bill has been the subject of great anticipation in the crypto world in recent months as senators have pushed to advance the legislation. The committee has jurisdiction over half of the bill because it oversees the Commodity Futures Trading Commission, which would gain new authority to regulate crypto tokens like bitcoin and ether under the proposal. Republicans on the Senate Banking Committee, which is responsible for the other half of the bill dealing with securities regulations, released a partisan discussion draft of its portion of the market structure legislation earlier this year. They are now negotiating with Democrats to try to come to a bipartisan agreement on the bill, in hopes of holding a markup this year. The bill — a top priority for both the politically powerful crypto industry and President Donald Trump — is designed to provide the “regulatory clarity” that digital asset executives and lobbyists have long argued they need from Washington. Declan Harty contributed to this report. Lead Art: Senate Agriculture Chair John Boozman (R-Ark.) unveiled the bill with Sen. Cory Booker (D-N.J.). | Mark Schiefelbein/AP

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