Coinbase, Kraken, and Gemini have submitted revised proposals to the U.S. Senate Committee on Agriculture, urging the removal of an anti-manipulation listing rule from a digital asset bill. The provision would restrict token listings to those not susceptible to manipulation, potentially limiting low-liquidity tokens and expanding CFTC oversight. This rule could be leveraged to enforce CFT (Countering the Financing of Terrorism) regulations, affecting liquidity and crypto markets. The bill broadens the CFTC’s authority over Bitcoin, Ethereum, and other digital commodities. The Agriculture Committee has approved the section and is now finalizing revisions to secure Democratic support.

ChainCatcher report: According to market sources, Coinbase, Kraken, and Gemini have submitted revised comments to the U.S. Senate Committee on Agriculture, urging the removal of a provision in the digital assets bill that requires exchanges to list only tokens “not readily susceptible to manipulation.” The three companies argue that this clause would make it more difficult for low-market-cap, low-liquidity tokens to be listed and could be used by future CFTC chairs as a tool to tighten regulatory enforcement. The current draft seeks to grant the CFTC broader authority over the spot markets for digital commodities such as Bitcoin and Ethereum. The relevant provisions have already been approved by the Senate Committee on Agriculture along party lines, but further significant revisions are expected to secure Democratic support.