U.S. Crypto Markets Bill Faces Partisan Test as Senate Agriculture Committee Vote Nears

Crypto lobbyists in Washington are preparing for the possibility that the latest U.S. crypto markets legislation will advance as a largely partisan effort led by Republicans, according to insiders familiar with ongoing negotiations. The bill is expected to receive its first major vote next week during a planned Senate Agriculture Committee hearing, a key milestone that could determine the future of comprehensive crypto regulation in the United States.

While discussions between lawmakers are still ongoing and the outcome could change, industry advocates have been warned to expect legislative text that closely aligns with Republican-backed priorities. Early indications suggest the draft will include crypto-friendly provisions, such as avoiding the classification of developers as regulated financial institutions. The text is expected to be released Wednesday, ahead of a Tuesday markup hearing where amendments will be debated and a committee vote will follow.

A partisan advance could accelerate short-term progress but complicate the bill’s long-term prospects. Without bipartisan support, the legislation may struggle to pass the full Senate, where at least seven Democratic votes are typically required to move forward. This risk is particularly concerning for the crypto industry, which has invested years of lobbying efforts and significant campaign spending to secure regulatory clarity.

The Agriculture Committee has taken the lead after a similar effort stalled in the Senate Banking Committee last week. That earlier version collapsed amid disagreements involving Democrats, Republicans, the White House, banking lobbyists, and a withdrawal of support from Coinbase. Because cryptocurrencies straddle both securities and commodities regulation, approval from both committees is required before the legislation can advance.

Despite setbacks, Senate Agriculture Committee Chairman John Boozman has emphasized transparency and bipartisan cooperation, praising Democratic Senator Cory Booker as a key partner. However, unresolved issues remain, including consumer protection standards, ethics rules to prevent government officials from profiting from crypto, and demands for additional committee oversight.

President Donald Trump has added urgency by signaling his intent to sign the bill into law soon, while White House crypto adviser Patrick Witt has expressed confidence that approval is inevitable. As the draft legislation emerges, industry stakeholders and lawmakers are preparing for intense debate, with many potential deal-breakers still on the table before the bill’s next critical vote.