Senate Agriculture Committee Advances Crypto Bill Amid Partisan Divide

The U.S. Senate Agriculture Committee advanced a crypto regulatory bill on January 29, 2026, in a party-line vote, signaling insufficient bipartisan support for Senate passage. The bill grants the CFTC authority over spot crypto markets and sets rules for exchanges, brokers, and dealers. The companion Banking Committee bill remains stalled amid fierce lobbying over whether crypto firms can pay interest on stablecoins. Industry groups spent heavily in the 2024 elections to back pro-crypto candidates, seeking legal clarity. The House passed its version in July 2025. Passage requires at least seven Democratic votes in the full Senate — none supported the bill Thursday. Top Democrat Sen. Cory Booker criticized the omission of DeFi safeguards, calling the near-miss “frustrating.” The White House will meet banking and crypto executives on February 2, 2026, to discuss next steps.