Bipartisan Senate bill seeks to shift crypto oversight from SEC to CFTC
Bloomberg carried the report, in summary:
Two U.S. senators unveiled a bipartisan draft bill that would transfer primary oversight of the cryptocurrency industry from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC), a regulatory shift long sought by crypto firms.
The proposal, introduced by Senate Agriculture Committee Chair John Boozman (R-Ark.) and Senator Cory Booker (D-N.J.), would give the CFTC authority to regulate crypto market structure, classify most tokens as digital commodities, require certain firms to register, and impose disclosure and transaction fees.
The move builds on similar legislation already advanced in the House and reflects a growing consensus that the SEC’s enforcement-led approach has hindered industry development. The Trump administration has endorsed giving the smaller CFTC the lead role, while some Democrats remain concerned about its limited staffing and resources.
Crypto leaders welcomed the Senate draft, calling it a “meaningful step toward a fit-for-purpose U.S. market framework.” Still, the measure faces a long legislative path: it must pass both the Agriculture and Banking Committees, and would require at least seven Democratic votes to overcome a Senate filibuster.
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The proposal could reshape U.S. crypto regulation by giving the CFTC control over most digital assets, a move seen as industry-friendly. However, uncertainty over DeFi rules, funding, and political alignment could delay meaningful progress.
The industry support for the move should act as a tailwind for crypto. Watch this:
Ethereum Futures: Key Breakout Zone Ahead (Apx. $3900)
