Senate Agriculture Committee to Vote on Pro-Crypto Bill Jan 27; Bipartisan Support Uncertain

The Senate Agriculture Committee is set to hold a markup hearing on January 27, 2026, for a new crypto markets bill expected to favor industry interests, though concerns mount over lack of Democratic backing. The draft, due January 21, avoids classifying crypto developers as regulated financial firms and sidesteps contentious issues like stablecoin yields and illicit finance. Without bipartisan support, the bill may fail to advance in the full Senate, where at least seven Democratic votes are typically needed. While Chairman John Boozman (R-AR) emphasized transparency and collaboration with Senator Cory Booker (D-NJ), Democrats continue demanding stronger consumer protections, ethics rules, and CFTC commission appointments. Meanwhile, Senator Chuck Grassley (R-IA) insists his Judiciary Committee must weigh in on liability protections. The White House, under President Donald Trump, signaled strong support, with crypto adviser Patrick Witt stating approval is "a question of when, not if." However, last week’s failed Banking Committee markup—derailed by divided parties, bank lobbyists, and Coinbase’s withdrawal—underscores the fragility of negotiations. Both committees must approve the legislation for it to move forward, leaving significant hurdles ahead despite the accelerated timeline.