Sen. Jon Husted (R-Ohio) announced on Mar. 27 that he has joined Sen. John Boozman’s (R-Ark.) Digital Commodity Intermediaries Act, a bill designed to give the Commodity Futures Trading Commission new authority over digital commodities and strengthen consumer protections in this emerging market.
The legislation aims to address the lack of clear regulations for digital assets, which supporters say is necessary for the United States to maintain leadership in innovation and job creation within the sector.
“Congress is overdue in providing the regulatory certainty and consumer protections the digital asset space needs. This bill represents an important first step toward delivering that clarity. If the United States is going to lead in digital assets, we need a framework that is clear, practical and supports innovation and job creation here at home. I look forward to working with my colleagues to move this legislation forward. We must also advance broader efforts to establish a strong, modern market structure bill that protects consumers, gives developers confidence to build in the United States and allows this technology to grow responsibly,” said Husted.
Boozman said, “This is a critical step toward creating clear rules for digital asset markets. Advancing this bill brings us closer to a U.S. regulatory framework that protects consumers while allowing American innovation and businesses to thrive. There’s still more work ahead, but I’m proud to lead this important effort and hopeful this will build momentum in the Senate to advance this legislation.” The act proposes defining digital commodities legally; establishing spot market oversight by the CFTC; introducing customer fund segregation requirements; setting conflict of interest safeguards; requiring disclosures; coordinating rulemaking between federal agencies; protecting software developers; and providing new funding for CFTC operations.
The Digital Commodity Intermediaries Act passed out of committee with a narrow vote of 12-11 on Feb. 2, moving it one step closer toward full Senate consideration.
Husted has served as Speaker of the Ohio House of Representatives before becoming Ohio secretary of state, lieutenant governor, and now U.S. senator according to his official website. He currently serves on Senate committees focusing on health, education, labor and pensions, small business and entrepreneurship, environment and public works, as well as aging according to his official website. His background includes advancing tax reductions and educational choice scholarships during his time as Speaker according to his official website.
Broader implications include potential changes across financial markets if Congress enacts these reforms into law—a development closely watched by industry participants seeking both clarity from regulators and stronger consumer protections.
