The development of comprehensive crypto market structure legislation in the United States requires coordinated efforts across two distinct Senate committees, each wielding significant oversight authority in the digital assets space.

The Banking Committee holds jurisdiction over the Securities and Exchange Commission (SEC) and securities-related matters, while the Agriculture Committee oversees the Commodity Futures Trading Commission (CFTC) and commodities regulation. This bifurcated structure reflects the ongoing debate about how digital assets should be classified and regulated within the existing financial framework.

Because these committees operate under separate jurisdictions, they develop their own legislative proposals independently. This means each committee drafts its own bill text, creating a complex process where different regulatory approaches must eventually be reconciled. The result is often competing visions for how the crypto market should be structured—one committee emphasizing investor protection and securities law, the other focusing on market integrity and commodity supervision.

Understanding this committee structure is essential for anyone tracking proposed crypto regulations, as it explains why legislative progress can be fragmented and why industry stakeholders often need to engage with multiple regulatory frameworks simultaneously.