Crypto bill talks advance after Senate committee vote, Sen. Boozman says

Sen. John Boozman said momentum is building after the Senate Agriculture Committee advanced its crypto market-structure bill on a party-line vote; Democrats raised concerns and withdrew support for that version.

Sen. John Boozman, chairman of the Senate Agriculture Committee, said he believes there is momentum to reach Senate agreement this year on a cryptocurrency market-structure bill after his committee advanced its version. The committee voted to move the measure on Jan. 29 along party lines. Democrats raised objections to the committee's text and did not back the version that passed. The draft seeks to place a national regulatory structure under the Commodity Futures Trading Commission for aspects of the crypto industry. What is known: - The Senate Agriculture Committee voted on Jan. 29 to advance its version of a crypto market-structure bill, with the vote split along party lines. - The bill aims to build a national regulatory framework under the Commodity Futures Trading Commission (CFTC). - Sen. Boozman said he feels "very strongly" about reaching Senate agreement and that advancing the bill has created momentum. - Sen. Cory Booker had worked with Boozman on a draft but withdrew support, saying the committee's version differed from a prior bipartisan text. - Democrats proposed amendments at the hearing addressing public officials' involvement in crypto, scams linked to crypto ATMs, and foreign adversary involvement; none were approved. - The Senate Banking Committee is the next panel expected to consider a crypto market-structure bill; a hearing on its text was postponed from Jan. 15 after opposition from parts of the crypto industry. Summary: Advancing the Agriculture Committee's bill has created a pathway for broader Senate consideration while exposing unresolved partisan differences over the text. The next formal step is consideration by the Senate Banking Committee; timing and the outcome of that review are undetermined at this time.