Democrats in the U.S. Senate are pushing amendments to the crypto market structure draft in the Agriculture Committee, ahead of a scheduled markup hearing next week.
The proposed changes aim to ban senior government officials, including the president, from profiting from cryptocurrency holdings. Senators also want the Commodity Futures Trading Commission (CFTC) to fill its slate of commissioners before new digital asset rules are enacted.
Other Democratic proposals include a ban on bailouts for digital-asset issuers, which Senator Richard Durbin has explicitly requested, and binding requirements for the CFTC quorum, as demanded by panel ranking member Senator Amy Klobuchar. Senator Michael Bennet is pushing an anti-corruption provision to further restrict crypto involvement for senior officials.
Republicans have also proposed amendments. Senator Tommy Tuberville seeks to prohibit U.S. crypto platforms affiliated with foreign adversaries, reflecting national security concerns in the legislation.
The committee is expected to mark up the bill, reviewing all amendments before a potential vote to advance it to the full Senate. However, a winter storm threatening Washington, D.C. could delay proceedings.
The Digital Asset Market Clarity Act must also pass through the Senate Banking Committee, which has seen heated debate in earlier attempts, before a vote in the full Senate. Observers expect negotiations to remain contentious due to the partisan nature of the proposals and the growing influence of cryptocurrency in U.S. markets.
The amendments reflect Democrats’ focus on anti-corruption, regulatory readiness, and investor protection, as Congress works to establish a clearer framework for digital asset oversight.
