Senate Crypto Bill Advances But Partisan Rift Threatens Final Passage

Democrats on the Senate Agriculture Committee say they remain committed to delivering a comprehensive crypto market structure law—but warn that a sudden partisan turn by Republicans and the White House has put the effort at risk.

For months, lawmakers from both parties negotiated a framework that would formally legitimize much of the U.S. digital asset industry. That fragile consensus fractured earlier this month when committee chair John Boozman advanced a Republican-only draft, sidelining the bipartisan text still under discussion.

At Thursday’s committee markup, all 11 Democrats voted against sending the bill to the Senate floor. Republicans, unified behind the draft, pushed it through anyway—an outcome Democrats argue may prove hollow without cross-party support in the full chamber.

Democratic negotiators said talks were still active as recently as the night before the vote, including efforts to resolve outstanding issues around decentralized finance. Those discussions, they argued, were not reflected in the version that advanced.

Much of the frustration centered on the White House. Democrats said the administration’s involvement—particularly President Donald Trump’s personal ties to the crypto sector—has complicated negotiations and hardened partisan lines.

Several Democrats drew a firm boundary: any path back to bipartisan support would require strict ethics provisions barring the president, family members, and other federal officials from issuing or promoting digital assets. They argued such safeguards are essential to restoring trust and avoiding conflicts of interest.

Republicans rejected multiple Democratic amendments at the markup, including a proposal to impose those restrictions across all federal offices. Boozman maintained that the bill could still evolve and suggested Democrats introduce changes later in the process.

For now, the legislation moves forward—but with its bipartisan foundation shaken, its fate in the Senate remains uncertain.