Senate Agriculture Committee Chair John Boozman may postpone next week’s planned vote on major cryptocurrency legislation as negotiations with Democrats gain momentum. The Arkansas Republican has expressed willingness to delay the January 15 markup if ongoing discussions produce substantial progress in the coming days.
Three sources familiar with the matter confirmed to Politico that Boozman’s potential decision stems from efforts to secure broader bipartisan support before advancing the bill. The legislation represents a significant attempt to establish regulatory clarity for digital assets in the United States.
Key Negotiations Center on Democratic Support
Senator Cory Booker serves as the lead Democratic negotiator on the Agriculture Committee for the crypto market structure bill. He met with Boozman on Thursday as staff from both parties continued behind-closed-doors talks to resolve remaining policy disagreements.
The discussions aim to bridge partisan divides on regulatory oversight of cryptocurrency markets. Booker struck an optimistic tone in a Thursday interview, stating that negotiations were progressing constructively. He expressed confidence that both sides could reach an agreement.
Boozman’s position reflects a delicate balance. Earlier this week, he publicly committed to holding the vote regardless of whether a bipartisan consensus emerged. Sara Lasure, a spokesperson for the senator, confirmed his dedication to advancing bipartisan legislation, noting that the official markup schedule remained unchanged.
The Agriculture Committee oversees provisions related to the Commodity Futures Trading Commission’s role in cryptocurrency regulation. This jurisdiction makes the panel’s approval crucial for establishing comprehensive market rules.
Dual Committee Approach Complicates Timeline
The Senate Banking Committee plans its own markup of complementary crypto legislation on the same date. That committee handles aspects involving the Securities and Exchange Commission’s authority over digital assets.
This dual-committee structure creates coordination challenges. Both panels must align their legislative approaches to produce a coherent regulatory framework legislation. Any delay in one committee could impact the other’s timeline.
Source: https://coinpaper.com/13651/major-crypto-legislation-faces-unexpected-twist-days-before-critical-vote
