Senate Drafts Plan to Split Crypto Oversight Duties

New Senate Proposal to Split Crypto Oversight Between CFTC, SEC

Written by Aaron S.,

Editor-In-Chief

Last Updated: November 11, 2025

Key Takeaways

The Senate Agriculture Committee released a draft bill defining how crypto markets should be regulated and which agencies will oversee them;
The proposal seeks to split oversight between the CFTC and SEC, with Congress setting clear boundaries for each regulator’s authority;
The draft, led by Senators Boozman and Booker, adds investor protections and defines key crypto terms, such as blockchain and DeFi.

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A US Senate committee has shared a new draft proposal to set clearer rules for regulating cryptocurrency markets.

The draft was released on November 10 by the Senate Agriculture Committee, which oversees the Commodity Futures Trading Commission (CFTC). It was introduced by Republican Senator John Boozman and Democrat Senator Cory Booker.

The proposal still has many sections marked for further discussion. These parts are still being negotiated and may change before the bill advances.

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The main goal of the draft is to define the responsibilities of two key regulatory agencies: the CFTC and the Securities and Exchange Commission (SEC).

Senator Boozman said the CFTC is best suited to regulate trading in digital commodities, and that clear guidelines are important to protect consumers.

Senator Booker added that the proposal would give the CFTC more tools and staff to keep up with the fast growth of this industry and would add new rules to protect individual investors.

The draft also includes definitions of terms like "blockchain", "decentralized finance", and "decentralized autonomous organizations". These terms are explained in the context of how they would be treated under current laws, particularly the Commodity Exchange Act.

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