According to reports from crypto journalist Eleanor Terret and market expert MartyParty on social media platform X, the Senate Committee on Agriculture is preparing to release a bipartisan draft of the crypto market structure bill, with some insiders suggesting a potential rollout as early as October 31, 2025, while others indicate possible delays until next week. This development follows a period of inactivity and aligns with renewed bipartisan negotiations in the Senate Banking Committee.
Senate Agriculture Committee Chair John Boozman confirmed that negotiations with Democrats are underway to release the bill very, very soon, with a goal to pass the legislation before 2026. Despite an ongoing government shutdown that has furloughed thousands of employees, congressional members continue to work on the bill, as highlighted by Bloomberg. The legislative effort builds on the CLARITY Act passed by the House in July 2025, with Senate leaders aiming to create their version under the Responsible Financial Innovation Act.
The bill focuses on expanding the Commodity Futures Trading Commission's (CFTC) oversight to include digital commodities, covering spot markets and derivatives. It also aims to introduce anti-manipulation measures and establish safeguards for decentralized finance (DeFi), stablecoins, and illicit finance, while fostering innovation in the sector. Wyoming Senator Cynthia Lummis, a key backer, had earlier hoped for committee considerations by end-September and end-October, though deadlines have been impacted by the shutdown.
Coinbase CEO Brian Armstrong expressed optimism in a CNBC interview, stating, We had great meetings with Democrats and Republicans today. There’s strong bipartisan support to get this market legislation done. It’s important for America and for the 15 million Americans involved in crypto. Armstrong noted that the Senate had agreed on about 90% of the issues, underscoring the productive nature of recent discussions.
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