House Financial Services and Agriculture Republicans released an updated version of the crypto market regulation bill on Tuesday, agreeing to make changes after Democrats raised concerns. Updates include additional funding for the CFTC to implement the bill, as well as changes to the SEC and CFTC’s authority over stablecoins.

The SEC asked a federal judge to ignore parts of the recent Ripple ruling, saying the decision does not square with existing securities laws, and the agency may appeal.

The House Agriculture Committee Democrats tweeted that the Committee should be focusing on pressing Farm Bill issues, rather than crypto legislation, calling the bill a “handout” to crypto exchanges, Wall Street, and Silicon Valley venture capitalists.

US District Judge Karen Caldwell dismissed crypto nonprofit Coin Center’s challenge to a forthcoming tax reporting requirement that would mandate firms report crypto transactions above $10,000. Because the rule does not take effect until January 1, 2024, Judge Caldwell determined that the crypto users had not established any injury or clear injury to come when the rule takes effect.

Republicans on the House Financial Services and Agriculture committees, led by House Agriculture Chair Glenn Thompson (R-PA), officially introduced a revised market structure bill—the Financial Innovation and Technology (FIT) for the 21st Century Act. The updated bill includes additional clarity on definitions, agency enforcement powers, and decentralization. The lawmakers also released a section-by-section summary. Recent reports have indicated that the committees may try to mark up the legislation soon, although the exact timing is not yet clear.

In a hearing on Wednesday, Senators questioned SEC Chair Gary Gensler on his agency’s authority and competence in curbing fraud and regulating the crypto industry. Chair Gensler stated that the CFTC’s authority over the crypto industry is “frankly not as robust” as his agency’s own, and he called for more money to oversee a space he said was “rife with fraud.” Sen. Dick Durbin (D-IL) also tweeted about the hearing, emphasizing the issue of fraud in the crypto industry.

House Financial Services Democrats, including Reps. Wiley Nickel (D-NC), Jim Himes (D-CT), Brittany Pettersen (D-CO), Gregory Meeks (D-NY), and Ritchie Torres (D-NY), are pushing Republicans to revise their stablecoin bill ahead of a vote next Wednesday. The changes would cover areas including the legislation’s treatment of state-based crypto regulation and reserve requirements.

Sens. Jack Reed (D-RI), Mike Rounds (R-SD), Mark Warner (D-VA), and Mitt Romney (R-UT), unveiled a bill that would require decentralized crypto exchanges and crypto kiosks to comply with anti-money laundering and economic sanctions rules. Sens. Romney and Reed posted tweets about the proposed bill.

Sens. Kirsten Gillibrand (D-NY), Cynthia Lummis (R-WY), Elizabeth Warren (D-MA), and Roger Marshall (R-KS) are pushing for an amendment to the NDAA to be included in amendment votes. Their proposal would introduce new anti-money laundering provisions for the crypto industry, and require regulators at the Treasury Department, CFTC, and SEC to adopt financial institution examination standards for crypto firms, with a focus on preventing money laundering and complying with sanctions.