The Senate Agriculture Committee has postponed its markup hearing on a crypto market structure bill from Tuesday to Thursday due to a severe winter storm affecting the East Coast. The delay allows lawmakers time to return to Washington amid disrupted travel. The hearing will involve debates and votes on amendments to the bill defining CFTC oversight of crypto markets.
The Senate Agriculture Committee announced on Monday that it would reschedule its planned markup hearing for a cryptocurrency market structure bill, shifting it from Tuesday afternoon to Thursday at 10:30 a.m. ET. The postponement stems from a once-in-a-decade winter storm that struck the East Coast and much of the eastern U.S. over the weekend, leading to canceled flights and altered Senate schedules.
This hearing was set to allow lawmakers to debate proposed amendments and vote on the committee's version of the legislation, which seeks to clarify the Commodity Futures Trading Commission's (CFTC) role in overseeing crypto markets. However, negotiations have been challenging. Committee Chair John Boozman stated last week that he and his Democratic counterpart, Senator Cory Booker, failed to reach an agreement on the bill's text owing to "fundamental differences in policy."
Democrats released several amendments on Friday, including measures requiring ethics commitments from senior government officials and mandating that regulatory agencies be led by bipartisan commissions. These proposals highlight ongoing partisan divides.
The delay aligns with broader disruptions. The Senate preemptively canceled votes on a government funding package scheduled for Monday afternoon; the U.S. government faces a funding deadline on Friday night, following the House's passage of its version on Thursday. Votes on the funding bills have been pushed to Tuesday afternoon to accommodate lawmakers' travel.
Separately, the Securities and Exchange Commission (SEC) and CFTC delayed a joint appearance by their chiefs from Tuesday to Thursday at 2:00 p.m. ET. The Senate Banking Committee, which is also advancing its own market structure bill, had postponed its hearing earlier this month without rescheduling a new date.
This development underscores the interplay between weather events and legislative progress on crypto regulation amid pressing fiscal deadlines.
