The U.S. Senate Agriculture Committee Cryptocurrency Legislation Hearing Scheduled for January 27

According to CoinDesk, following the announcement that the Senate Banking Committee will hold a markup session for its version of the bill this Thursday, the Senate Agriculture Committee has also set a new timetable.

The committee plans to officially release its drafted cryptocurrency market structure bill on January 21, and will hold a crucial hearing on January 27.

The hearing marks the start of substantive "clause revision" in the legislative process and is a key step in whether the bill can proceed smoothly.

It is expected that lawmakers will debate and vote on amendments to the bill during the hearing to decide whether to submit the entire bill to the full Senate for a final vote.

However, the final form of the bill still faces some core disputes. According to informed sources, neither the Agriculture Committee nor the Banking Committee's drafts currently include two major key provisions of bipartisan concern:

First, the ethical standards clause involving President Trump and his family’s connections to cryptocurrency businesses; second, the number of lawmakers required for regulatory agencies like the SEC and CFTC to be jointly led by both parties for effective voting and rulemaking.

Due to the absence of these contentious provisions, the current draft of the bill is considered unlikely to garner enough bipartisan support, adding uncertainty to the subsequent legislative process.

In summary, the legislative work on the U.S. cryptocurrency regulatory framework is entering a stage of coordination and compromise between the two major committee versions.

How to reach consensus on these key contentious clauses in the future will directly determine whether this series of bills, aimed at providing "clarity and certainty" to the market, can ultimately be passed.

#CryptoLegislation