Bipartisan U.S. senators have filed several amendments ahead of tomorrow’s crypto market structure bill markup. These developments follow the recent scheduling of the markup from Tuesday earlier this week due to weather concerns. Meanwhile, the markup is set to hold despite concerns over a looming U.S. government shutdown by Saturday.
Senators File Amendments To Crypto Market Structure Bill
According to Crypto in America, several senators filed targeted amendments ahead of the vote. Senator Michael Bennet of Colorado proposed ethics rules limiting crypto holdings and activities for government officials and their families. However, the committee has not confirmed whether it will adopt the measure.
Senate Agriculture ranking member Amy Klobuchar of Minnesota filed two amendments. One would delay implementation until the CFTC confirms four commissioners, including two minority party members. The second would narrow the definition of “retail participant” and clarify the role of the Digital Commodity Retail Advocate.
Other proposals also appear on the agenda. Senator Dick Durbin filed amendments to ban bailouts for crypto issuers and to add anti-fraud rules for crypto ATMs. Meanwhile, Senators Tommy Tuberville of Alabama and Jerry Moran of Kansas proposed restrictions on foreign adversary participation in U.S. crypto markets.
The markup will focus on amendments tied directly to digital asset oversight. Lawmakers will debate each proposal before voting. Afterward, the committee will decide whether to send the bill to the Senate floor.
All committee members are likely to be in attendance at the crypto market structure bill markup tomorrow, as the weather disruptions have cleared. CoinGape reported that the Senate Agriculture Committee rescheduled the crypto market structure bill markup for tomorrow due to the heavy snow and icy conditions from earlier in the week.
The crypto bill is likely to advance after gaining bipartisan support this week, with top Democratic senators making clear they will not attempt to block the bill during the upcoming markup. Senators Roger Marshall and Dick Durbin have said they will not advance their credit card swipe-fee amendment during the markup.
Gillibrand Pushes Bipartisan Rules for Crypto Markets
Sen. Kirsten Gillibrand said crypto markets need a clear structure because digital assets operate differently from traditional banking systems. She remarked that defined rules would help participants understand how to operate legally and responsibly. Gillibrand added that consumer protections and disclosures would help buyers know what they are purchasing and the associated risks.
Gillibrand also said clear regulation would keep crypto companies operating in the United States instead of moving abroad. She stressed that New York’s position as a global financial center depends on regulatory certainty for digital asset firms. Gillibrand said bipartisan negotiations remain active, with lawmakers continuing to resolve outstanding issues.
The markup comes as Congress faces a separate funding deadline. Senate Minority Leader Chuck Schumer said Democrats will block a funding package ahead of Saturday’s deadline. Polymarket data shows a 76% chance of a U.S. government shutdown on January 31, adding pressure around Thursday’s vote.
Source: Polymarket
Source: https://coingape.com/senators-propose-amendments-to-crypto-market-structure-bill-ahead-of-tomorrows-markup/
