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Bipartisan crypto market bill in US Senate redefines regulatory oversight

Montage of senators G-Cory Booker and John Boozman.
Senators G-Cory Booker (D-NJ) and John Boozman (R-AR). GRIP Montage: Chip Somodevilla/Kayla Bartkowski/Getty Images

Julie DiMauro

4 min read
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The long-awaited draft bill hands the CFTC the biggest role in overseeing digital assets, marking a major step in clarifying who polices crypto and how.

Senators John Boozman (R-AK) and Cory Booker (D-NJ) have introduced a bipartisan discussion draft bill, released by the Senate Agriculture Committee on which they sit, that would shift the bulk of the regulatory oversight of cryptocurrency from the SEC to the Commodity Futures Trading Commission (CFTC).

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