By cryptoadmin TL;DR
- The U.S. Senate Agriculture Committee will release text for a new crypto market structure bill.
- Bipartisan negotiations address contentious issues like the definition of memecoins.
- Coinbase’s CEO criticized a separate Banking Committee draft, citing “serious issues”.
The U.S. Senate Committee on Agriculture, Nutrition, and Forestry plans to release legislative text for a new crypto market structure bill today. Committee Chair John Boozman is leading the effort. The release is part of a push to create regulations for the digital asset market outside the scope of stablecoins.
“We think they are the right people to take over leadership of Farcaster and they’ll share their new builder-focused vision soon,” said Farcaster founder Dan Romero
The committee announced on January 13 it would publish the text ahead of a scheduled committee markup on January 27. A hearing on the bill was postponed from January 15 to January 21. Boozman stated the new schedule allows for greater transparency and thorough scrutiny as the committee works to provide clarity for crypto assets.
Key Issues and Bipartisan Negotiations
The draft text will provide a high-level overview of key issues for industry participants. It will also indicate if two weeks of negotiations between Chairman Boozman (R-AR) and Senator Cory Booker (D-NJ) produced a bipartisan agreement. Several contentious points have emerged during discussions.
One issue is whether to include memecoins in the definition of “digital goods.” Other points of debate involve funding for the Commodity Futures Trading Commission to oversee crypto markets and the establishment of token listing standards. Members of the Senate Banking Committee are monitoring the Agriculture Committee’s progress, hoping for a unified proposal that can facilitate their own markup process.
The Banking Committee postponed its markup last week after releasing its own draft text. It has not set a new formal date. Coinbase CEO Brian Armstrong commented on the Banking Committee’s draft, stating a review found “serious issues.” He noted the committee showed no signs of resolving these problems, prompting the exchange to defend its customers.
Here's a quick summary of what happened last week with the CLARITY Act.
Now we're all working together to find a win-win scenario for everyone, especially the American people. pic.twitter.com/Wcry97B3qf
— Brian Armstrong (@brian_armstrong) January 21, 2026
External Commentary and Broader Implications
Armstrong is currently in Davos, Switzerland, alongside traditional banking CEOs. The Banking Committee’s delay provided an opportunity for dialogue between crypto industry representatives and bank executives. Patrick Witt, Executive Director of the White House Crypto Council, suggested that delaying the market structure bill could lead to harsher regulation under a future administration less favorable to crypto.
U.S. President Donald Trump also addressed the legislation at the World Economic Forum in Davos. He stated members of Congress are working hard on the bill, which he looks forward to signing soon. Trump emphasized his goal to ensure “America remains the crypto capital of the world.” He referenced his prior signing of the GENIUS Act as part of an agenda to maintain a regulatory lead over other nations, specifically citing China.