Democratic aides express willingness to return to the negotiating table, Senate Agriculture Committee's cryptocurrency legislation discussions see a breakthrough

According to reports, after negotiations on cryptocurrency market legislation hit a snag in the Senate Agriculture Committee, a Democratic senator's aide stated that the Democratic side is still willing to return to the negotiating table to push for a bipartisan compromise.

The aide revealed that at the beginning of the new year, Democratic members were "caught off guard" during the negotiations, as the Republican side drafted a new version of the bill without sufficient consultation and originally planned to move directly into the review process this week. In response, the Democratic side hopes to re-engage with the committee chair, Republican Senator John Boozman's team, before the vote this week to seek a bipartisan consensus.

The Senate Agriculture Committee was originally scheduled to hold a markup and voting session on cryptocurrency legislation this Tuesday, but it has been postponed to Thursday due to severe weather in Washington. Meanwhile, some Democratic lawmakers are actively pushing to restart negotiations to reach a bipartisan-approved text before the hearing.

The cryptocurrency market structure bill aims to establish a federal-level regulatory framework for digital assets, including clarifying the regulatory division of responsibilities between the SEC and CFTC, as well as related disclosure requirements. Analysts point out that, given that both the Senate Banking Committee and the Agriculture Committee need to advance their respective versions of the bill, bipartisan cooperation remains a key prerequisite for the smooth progress of the legislation.