Senate Democrats Want Seats at SEC, CFTC to Support Crypto Bill
The post Senate Democrats Want Seats at SEC, CFTC to Support Crypto Bill appeared on BitcoinEthereumNews.com.
In brief The conditions were outlined in a letter published Tuesday by Sen. Ruben Gallego, the top Democrat on the Senate Banking Committee’s Subcommittee on Digital Assets. The letter underscored the willingness of the group to pass crypto legislation so long as it was meaningfully bipartisan. The letter also requests numerous additions to the Senate crypto market structure bill. A dozen pro-crypto Senate Democrats issued a list of conditions under which they would support a pending digital assets market structure bill, citing President Donald Trump’s resistance to keeping Democratic commissioners at federal agencies like the SEC and CFTC as a key sticking point. The conditions were outlined in a letter published Tuesday morning by Sen. Ruben Gallego (D-AZ), the top Democrat on the Senate Banking Committee’s Subcommittee on Digital Assets. The letter, which underscored the willingness of the group to pass crypto legislation so long as it was meaningfully bipartisan, was signed by 10 Senate Democrats who voted for the stablecoin-focused GENIUS Act earlier this year. They include Mark Warner (D-VA), Kirsten Gillibrand (D-NY), Cory Booker (D-NJ) and Adam Schiff (D-CA). The letter was also signed by Sen. Lisa Blunt Rochester (D-DE), who voted against the GENIUS Act. That voting bloc of ostensibly pro-crypto Democrats was key to passing the GENIUS Act this summer, and will likely be crucial this time around as well, given at least seven Democrats would need to join every Senate Republican in order to pass the bill. While the letter requests numerous additions to the Senate crypto market structure bill, which would set the rules for the vast majority of the crypto economy, its strongest language focuses on the current composition of the SEC and CFTC, the two regulators that would oversee a federal crypto regulatory framework. Both agencies are by law required to…
Filed under: News - @ September 9, 2025 11:30 pm