The U.S. Senate Agriculture Committee has released a draft bill aimed at regulating the cryptocurrency industry, granting the Commodity Futures Trading Commission (CFTC) expanded powers. This follows the House's passage of the Digital Asset Market Transparency Act in July. The draft, proposed by the Republican-led Senate Banking Committee, seeks to clarify the jurisdictions of the Securities and Exchange Commission (SEC) and the CFTC, introducing the concept of "auxiliary assets" to identify non-securities cryptocurrencies. The 155-page draft outlines a regulatory framework for digital goods under the CFTC's oversight. However, key issues remain unresolved, including concerns about the CFTC's resources and potential regulatory arbitrage. The draft suggests a new funding source for the CFTC through charges on crypto entities, though specifics are not detailed. Additionally, the draft addresses conflicts of interest in crypto businesses, a point of contention for Democrats and former President Trump. Negotiations continue to address these outstanding issues.