The U.S. Senate Agriculture Committee, led by John Boozman, has advanced a revised crypto market structure bill to a January 27 markup, despite lacking full bipartisan support. The updated draft aims to expand the Commodity Futures Trading Commission's (CFTC) oversight while removing sections on decentralized finance (DeFi) and anti-money laundering (AML) to facilitate committee approval. This move comes after weeks of negotiations with Democrats failed to yield a consensus. The revised bill focuses on regulating digital assets through CFTC registration and compliance, clarifying the categorization of crypto assets under federal law, and defining jurisdictional boundaries between the Securities and Exchange Commission and the CFTC. The Senate Banking Committee's delay in its own crypto bill, due to disputes over stablecoin yield provisions, adds pressure to the legislative process. Final passage will require reconciling both committee versions and securing 60 Senate votes, including some Democratic support.