Which bill expands CFTC authority?

TLDR

The Senate Agriculture Committees draft crypto market structure bill would expand the Commodity Futures Trading Commissions authority by making it the primary regulator of digital commodity spot markets, including Bitcoin and Ether, per a recent committee draft and reporting (Politico).

1. The draft would place spot trading of digital commodities under the CFTC and require exchange registration with consumer protections (crypto news coverage).
2. It is a bipartisan discussion draft led by Senators John Boozman and Cory Booker and is often referred to as the CLARITY Act (committee draft coverage).

Deep Dive

1. What It Changes

The draft would empower the CFTC to police spot markets for digital commodities, pushing crypto trading platforms into a CFTC registration regime with segregation of customer funds, disclosures, and conflict controls. This draft also highlights self-custody protections and developer exemptions, clarifying that publishing software or maintaining infrastructure is not, by itself, money transmission (crypto news report).

2. Sponsors And Status

The proposal is a bipartisan discussion draft from Senate Agriculture Chair John Boozman and Senator Cory Booker. It aims to create a federal spot-market oversight regime for digital commodities and remains under negotiation, with open sections that must be reconciled with securities-focused counterparts before advancing (Politico report).

Conclusion

Answer: the Senate Agriculture Committees bipartisan draft (commonly called the CLARITY Act) is the bill that would expand the CFTCs authority over crypto spot markets. If it progresses, it could institutionalize a federal framework for digital commodity trading and reduce SEC versus CFTC gray areas, though final scope depends on ongoing negotiations and alignment with other committees.