Under the leadership of Chairman John Boozman (R-AR), the U.S. Senate Committee on Agriculture, Nutrition, and Forestry has advanced the Digital Commodity Intermediaries Act. This legislation aims to give new authority to the Commodity Futures Trading Commission (CFTC) for regulating digital commodities and strengthening consumer protections in this emerging market.
“This is a critical step toward creating clear rules for digital asset markets. Advancing this bill brings us closer to a U.S. regulatory framework that protects consumers while allowing American innovation and businesses to thrive. There’s still more work ahead, but I’m proud to lead this important effort and hopeful this will build momentum in the Senate to advance this legislation,” Boozman said.
The bill builds on the bipartisan, House-passed CLARITY Act and includes provisions negotiated with Senate Democrats as well as input from bipartisan meetings with stakeholders.
Key elements of the Digital Commodity Intermediaries Act include establishing a legal definition for digital commodities, creating a spot market intermediary regulatory regime under CFTC oversight, implementing consumer protection measures such as customer fund segregation requirements and conflict of interest safeguards, introducing trading registration regimes designed to support regulated markets while protecting retail participants, requiring coordination between the CFTC and SEC on rulemakings, providing protections for software developers and technology innovators, and establishing new funding streams for CFTC regulation.
Boozman has consistently advocated for frameworks that protect consumers and markets. He stated his commitment to continue working with colleagues and stakeholders as crypto market structure legislation moves forward in the Senate.
The Senate Agriculture, Nutrition, and Forestry Committee was established in 1825 to manage agricultural matters within the United States Senate's standing committee structure. The committee oversees policies related not only to agriculture but also nutrition assistance programs, forestry resources, rural development initiatives, crop insurance policies, food safety regulations, hunger issues, research advancements in agriculture education since the 1860s, price supports from the 1930s era programs, international trade promotion efforts from recent decades—all through hearings and legislative reviews according to its official website. The committee maintains offices within the U.S. Capitol complex.
