The U.S. Senate Committee on Agriculture, Nutrition, and Forestry, led by John Boozman, published an updated draft of the crypto market structure on January 21, 2026, in Washington.

This legislative update emphasizes expanding the CFTC's authority over digital commodities, excluding stablecoins, which could significantly impact the processing and regulation of cryptocurrencies in the American market.

The U.S. Senate Committee on Agriculture has amended its legislation on the crypto market structure. The draft published on January 21, 2026, builds on the previous bipartisan document and aims to increase transparency in cryptocurrency market regulation.

Under the leadership of Chairman John Boozman, the bill expands the CFTC's authority over digital commodities. Stablecoins are excluded, but meme coins are included as network tokens. Boozman emphasized the transparency of the entire legislative process, and support from Senator Booker strengthened bipartisan cooperation.

"This schedule provides transparency and allows for thorough examination of the process as the committee moves forward with legislation to ensure clarity and certainty for crypto markets. I am grateful to Senator Booker, who continues to be an excellent partner, as well as to our staff for their hard work and dedication to creating new rules to protect consumers and support American innovation," — John Boozman, Chairman of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry.
The immediate impact of the draft is directed at digital commodities such as Bitcoin BTC -0.13%. These amendments aim to clarify the CFTC's authority. Meanwhile, stablecoins remain outside the proposed regulatory framework.

Financial implications include redefining oversight of transactions and requiring qualified custodians for these assets. With a focus on consumer protection, the legislation promotes innovation by creating a simplified process for exchanges, brokers, and dealers.

The amendments propose significant changes aligned with previous House initiatives. The CLARITY Act serves as a template, strengthening the role of the CFTC without affecting payment stablecoins. The main focus remains on ensuring regulatory consistency.

Analysis indicates potential changes in regulatory practices influenced by historical trends from past discussions. This draft will align cryptocurrency regulation with existing models based on data-driven assessments. Future outcomes will depend on legislative adoption and market adaptation.