Senate Democrats Demand Equal Role in Crypto Bill Talks

- Senate Democrats advocate bipartisan efforts in drafting crypto legislation. - Tensions rise as Republicans push forward with Clarity Act. On September 20, 2025, 12 Senate Democrats, including Kirsten Gillibrand and Cory Booker, issued a statement urging a collaborative approach to drafting crypto market structure legislation. They underscored the importance of bipartisan authorship for such critical legislation while also criticizing Republicans for advancing their own proposal without adequate Democratic contributions. According to The Block on September 20, the Democrats' plan focuses on expanding the Commodity Futures Trading Commission’s (CFTC) authority to oversee spot markets for non-security tokens. The plan also outlines criteria to identify which securities fall under the jurisdiction of the Securities and Exchange Commission (SEC). To ensure balanced regulatory oversight, the Democrats propose closer coordination with the Senate Agriculture Committee, which supervises the CFTC. This approach contrasts sharply with the Republican-led Clarity Act, which aims to establish a joint SEC-CFTC committee to streamline crypto regulations. Key points of contention separate the two parties. For instance, Democrats propose an anti-corruption provision that would ban elected officials and their families from profiting from crypto projects while in office. In addition, they request increased funding for regulatory agencies, arguing these measures are essential to prevent conflicts of interest and protect legislative integrity. Senate Banking Committee Republicans are accepting feedback on their draft until October 20. However, the timeline for finalizing the legislation remains uncertain, as the parties' contrasting visions underscore the ongoing discord over how to structure the crypto market’s regulatory framework. Meanwhile, according to CoinMarketCap on September 21, 2025, Bitcoin (BTC) was trading at $26,431 after a 1.5% drop in 24-hour trading volume, while Ethereum (ETH) stood at $1,631, marking a 0.8% decline within the same period.