U.S. Senate Agriculture Committee Chair Debbie Stabenow has been working on a crypto bill and a hearing was scheduled for Wednesday, but voting on the bill was delayed or resumed in September. Ms Stabenow said her bill would give the Commodity Futures Trading Commission authority over "digital commodities" and give the CFTC permanent funding to oversee the market.
Debbie Stabenow, chair of the Senate Agriculture Committee, said the latest legislative proposals to oversee cryptocurrency markets will be presented to the rest of the committee this week, and the committee's senior Republican said his meetings with crypto industry leaders suggest legislative work may not be ready. Meanwhile, Commodity Futures Trading Commission Chairperson Rostin Behnam urgently testified that Congress needs to act on digital assets.