Catenaa, Wednesday, February 04, 2026-The Senate Agriculture Committee advanced a broad digital asset market structure bill late last week, but the party line vote underscored growing divisions tied to President Donald Trump’s personal and family involvement in the crypto industry.
The committee approved the legislation 12-11, sending it forward without Democratic support. Lawmakers from both parties said recent revelations about Trump-linked crypto ventures disrupted earlier bipartisan negotiations that had shown progress late last year.
The bill would expand the Commodity Futures Trading Commission’s authority over crypto markets and include provisions favorable to decentralized finance.
Those measures would protect noncustodial software developers and infrastructure providers from certain regulatory obligations.
Democrats argued that unresolved concerns over conflicts of interest remain a barrier. Lawmakers cited Trump’s reported earnings from crypto related projects, including decentralized finance and stablecoin initiatives, as well as family ownership stakes in mining operations.
Several amendments seeking to address ethical concerns tied to elected officials holding crypto assets were introduced but not adopted.
Committee leadership said the question of financial holdings by federal officials extends beyond the scope of the legislation and would require broader debate.
Other proposed changes, including provisions targeting fraudulent activity at digital asset kiosks, also failed to gain approval.
The vote sets up the next phase in the Senate Banking Committee, where lawmakers must still advance a separate version of crypto market legislation.
That process has faced delays following disagreements over stablecoin rewards, regulatory jurisdiction and industry support.
Any final bill would need to merge both committee versions before reaching the Senate floor. Passage would require support from all Republicans and several Democrats, an outcome that remains uncertain given the lack of bipartisan backing in the Agriculture Committee.
