Senate Ag Unveils Draft Crypto Bill Amid Market and Legislative Challenges

The Senate Agriculture Committee has released a draft of a bill to overhaul cryptocurrency regulation, focusing on empowering the CFTC to regulate digital commodities like bitcoin and ether, amid ongoing negotiations and concerns over bipartisan support and agency staffing. The legislation aims to clarify regulatory frameworks for the crypto market, with key issues including the composition of the CFTC and the influence of political and familial ties in crypto regulation. Meanwhile, other legislative and political developments include efforts to reopen the government, debates over hemp industry regulations, and internal Democratic leadership dynamics.