[The U.S. Senate Agriculture Committee's Crypto Bill Grants New Powers to the CFTC, but Key Issues Remain Unresolved] According to The Block, the U.S. Senate Agriculture Committee has released a legislative draft for regulating the crypto industry, granting new powers to the CFTC. Previously, the House of Representatives passed the 'Digital Asset Market Transparency Act' in July, and the Senate subsequently began drafting its own related legislation. The draft proposed by the Senate Banking Committee, led by Republicans, aims to delineate the jurisdiction between the SEC and the CFTC and introduces the new concept of 'ancillary assets' to clarify which cryptocurrencies do not fall under the category of securities. Given the Senate Agriculture Committee's jurisdiction over the CFTC, its proposed draft is particularly significant. This 155-page draft defines digital commodities and establishes a regulatory framework for the CFTC. Draft author Cory Booker stated that more work is needed, especially concerning the CFTC's lack of resources and the potential for regulatory arbitrage due to bipartisan committee issues. He also expressed concerns about public corruption and whether regulatory measures are sufficiently robust. The Agriculture Committee's draft provides new funding sources for the CFTC, specifying that the CFTC should charge unspecified crypto entities. Brackets in the draft reflect 'unresolved issues' that require further negotiation between parties. Additionally, Democrats face obstacles related to conflicts of interest in Trump's crypto business dealings, and the Agriculture Committee's draft already includes provisions addressing conflicts of interest.