US senators weigh CFTC hurdle for crypto bill

US senators are set to consider amendments to a long-awaited crypto market structure bill as concerns mount over the Commodity Futures Trading Commission operating with just one confirmed commissioner.

The Senate Agriculture Committee is scheduled to hold a markup on the Digital Commodity Intermediaries Act on Thursday, marking one of the chamber’s first moves to advance crypto market structure legislation.

Among proposed amendments is a measure that would delay implementation of the bill until the CFTC has at least four Senate-confirmed commissioners, responding to leadership gaps at the regulator.

The amendment was put forward by Minnesota Senator Amy Klobuchar after the resignation of acting chair Caroline Pham and other commissioners in 2025 left the agency without a quorum.

The CFTC is meant to have five commissioners, but only Chair Michael Selig, appointed by President Donald Trump, currently remains in office.

Other amendments include proposals to restrict lawmakers’ crypto industry ties, address foreign market interference and mandate competition on credit card swipe fees.

Uncertainty remains over which amendments will pass and how the Agriculture Committee’s bill may be reconciled with stalled efforts in the Senate Banking Committee.