Daily Crypto Briefs 
WASHINGTON, Jan. 22, 2026
The Senate Agriculture Committee released updated text for a crypto market structure bill that would expand the CFTC’s role in digital assets, and set a Jan. 27 markup, as bitcoin traded near $89,700.
Chairman Boozman released a new draft and confirmed the bill is heading to markup on January 27th. That means lawmakers are no longer waiting for perfect agreement to act. The draft, released Jan. 21, follows talks that did not reach agreement.
Chairman John Boozman said the committee is moving forward after talks did not close the gap. “Although it’s unfortunate that we couldn’t reach an agreement, it’s time we move this bill,” Boozman said in the committee’s announcement.
The move follows Senate Banking’s market structure postponement, which we tracked in Senate Kicks US Crypto Bill Again as Housing Takes Priority, and it comes days after SEC Chair Paul Atkins said Congress was close to passing a market structure bill in SEC Chair Says Crypto Market Structure Bill Ready to Pass.
Market snapshot: Data showed bitcoin down about 0.5% over 24 hours near $89,716, with estimated 24 hour volume around $42.5 billion. Ether was down about 3.0% near $2,952, with estimated 24 hour volume around $24.5 billion.
Senate Agriculture sets a Jan. 27 markup
Boozman scheduled the committee’s business meeting for Tuesday, Jan. 27 at 3:00 p.m. ET, according to the committee release. A markup is a committee vote where senators debate amendments and decide whether to advance a bill.
The agriculture text is one Senate track toward market structure, separate from the House’s CLARITY Act. Our background on H.R. 3633 and the broader split is in CLARITY Act timeline slips to 2026 as Democrats raise Trump crypto ethics concerns.
The updated text expands CFTC authority and defines meme coins
The updated draft is titled the Digital Commodity Intermediaries Act of 2026. It sets out definitions and compliance obligations for covered “digital commodity intermediaries,” which include exchanges and similar platforms in the text.
The bill defines a “meme coin” as a digital commodity associated with an online persona or trend and marketed primarily online to drive speculative trading, with an exceptions process described in the text.
The draft also includes fee authority. Section 210 authorizes the CFTC to collect fees for covered intermediaries “in support of the Commission’s administration and enforcement” of the act.
DeFi, noncustodial software, and the Senate’s split track
The bill text contains language aimed at drawing a line between intermediaries and noncustodial software. Section 207 says a person is not a digital commodity intermediary “solely because” they publish code, validate transactions, provide hardware, or provide software that “does not allow a person to exercise discretion” over customer assets.
The Senate still has two committees touching market structure. Senate Agriculture is moving its text toward a Jan. 27 vote, while Senate Banking has not set a new date after its Jan. 14 postponement.
Stablecoins remain a fault line in the broader market structure debate. We covered the bank angle in Banks Want Your Stablecoins and the separate issuer rules in The Genius Act and the Stablecoin Market.
The bill’s definitions will shape what activity needs registration and which agency writes the rulebook, affecting exchange compliance and listings.
It was not clear which amendments will be offered at markup. Next: the Jan. 27 meeting, plus any new Senate Banking schedule and updated text.
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Primary sources and further reading
| Source | Title |
|---|---|
| | Senate Agriculture: Boozman unveils updated market structure legislation (Jan. 21, 2026) |
| | Senate Agriculture: Digital Commodity Intermediaries Act of 2026 (bill text PDF) |
| | Senate Banking: Scott statement on market structure markup (Jan. 14, 2026) |
Fact-checked by: Daily Crypto Briefs Fact-Check Desk
Frequently Asked Questions
What did Senate Agriculture release on crypto market structure?
The committee posted updated text for the Digital Commodity Intermediaries Act of 2026 and set a Jan. 27 business meeting to mark up the bill.
What does expanding CFTC authority mean in crypto?
The bill would set a CFTC registration and compliance framework for covered digital commodity intermediaries and authorizes fee collection to fund oversight.
Does the bill cover meme coins?
Yes. It defines “meme coin” as a digital commodity tied to an online persona or trend and marketed primarily online to drive speculative trading.
Does the draft protect noncustodial wallets and DeFi software?
It includes language aimed at limiting who counts as an intermediary, with provisions focused on intermediaries rather than software publishers or infrastructure.
What is next after the Jan. 27 markup?
If it advances out of committee, the next steps are potential Senate floor action and negotiation with other committees and the House.