Crypto News Today: Critical Senate Bill Amendments, Mining Stock Surge, and Widespread Merchant Adoption

January 15, 2025 – Washington D.C., USA – The cryptocurrency landscape experienced significant developments today, marked by pivotal legislative progress on Capitol Hill, a notable rally in Bitcoin mining equities, and fresh data revealing accelerating merchant adoption of digital assets for payments. These three distinct events collectively underscore the maturing intersection of regulation, infrastructure, and commerce within the blockchain sector.

Crypto Market Structure Bill Faces Crucial Senate Amendments

US lawmakers returned to Capitol Hill this week, resuming work on the long-anticipated Digital Commodity Intermediaries Act (DCIA). Consequently, the Senate Agriculture Committee scheduled a critical markup session for Thursday. This legislative effort aims to establish a comprehensive digital asset market structure framework, a response to years of regulatory uncertainty. The bill’s advancement follows the Senate Banking Committee’s decision to postpone its own markup after Coinbase, a major exchange, withdrew its support.

Significantly, senators will weigh at least eleven proposed amendments. These proposals reveal the complex political and economic considerations shaping crypto policy. For instance, one amendment seeks to ban lawmakers and White House officials from engaging with the crypto industry, addressing potential conflict-of-interest concerns. Another proposal focuses on credit card swipe fees, aiming to force greater competition.

Klobuchar’s CFTC Amendment and Its Implications

A particularly notable amendment, proposed by Senator Amy Klobuchar (D-MN), ties the bill’s implementation to the staffing of the Commodity Futures Trading Commission (CFTC). The amendment stipulates that the law cannot take effect until at least four commissioners are confirmed by the Senate. This proposal directly responds to a leadership shortage at the CFTC in early 2025, following the resignation of acting chair Caroline Pham and other members. Experts suggest this condition could delay the regulatory framework’s rollout, potentially extending the current period of ambiguity for market participants. The CFTC is widely expected to gain expanded oversight over digital commodities under the new structure.

Bitcoin Mining Stocks Rally Following US Hashrate Decline

Concurrently, publicly traded Bitcoin mining companies witnessed substantial gains on Wednesday. This rally correlated directly with a sharp, weather-induced drop in the Bitcoin network’s total computational power, or hashrate. A severe winter storm across the United States forced several large mining operations to temporarily power down, reducing network-wide competition.

Key performers included:
TeraWulf (WULF): Rose approximately 11%.
Iren Limited (IREN): Gained roughly 14%.
Cipher Mining (CIFR): Climbed around 13%.

Data from Coinwarz shows the network hashrate plummeted to a seven-month low of 663 exahashes per second (EH/s) on Sunday, representing a 40% decline in just 48 hours. While it recovered to 814 EH/s by Wednesday, it remained below the pre-storm level of approximately 1.1 zettahashes per second. A lower hashrate reduces the difficulty for active miners to solve blocks and earn Bitcoin rewards, thereby increasing profitability for operations that remain online. This event highlights the sensitivity of mining economics to external factors like energy availability and weather.

PayPal Survey: Crypto Payments Enter Mainstream Commerce

Beyond markets and regulation, adoption metrics also made headlines. A new survey released by PayPal on Tuesday indicates a significant shift in merchant acceptance. The survey of 619 payment-strategy decision-makers found that nearly 40% of US merchants now accept cryptocurrency at checkout.

Furthermore, the data reveals strong forward-looking sentiment. A striking 84% of merchants believe crypto payments will become mainstream within five years. Adoption is currently led by large enterprises, with 50% accepting crypto, compared to 32% of midsized businesses and 34% of small companies. May Zabaneh, Vice President at PayPal, stated the findings show “crypto payments are moving beyond experimentation and into everyday commerce.” The survey also identified key merchant-perceived advantages, including access to new customer segments and lower transaction fees compared to traditional card networks. However, 90% of merchants indicated they would be more likely to adopt crypto if the payment infrastructure were as simple as processing credit cards.

Conclusion

Today’s crypto news illustrates a sector evolving on multiple fronts. Legislative progress in the Senate points toward a more defined regulatory future, while market forces demonstrated how Bitcoin mining remains tethered to real-world infrastructure and energy dynamics. Finally, PayPal’s survey provides tangible evidence that digital asset payment adoption is accelerating within the commercial mainstream. Together, these developments paint a picture of an industry navigating its path toward integration with established financial and legal systems. The outcomes of the Senate markup, the stability of mining operations, and the simplification of payment rails will be critical factors to watch in the coming weeks.

FAQs

Q1: What is the Digital Commodity Intermediaries Act (DCIA)?
The DCIA is a proposed US Senate bill designed to create a regulatory framework for digital asset markets. It aims to clarify rules for crypto exchanges and intermediaries, potentially granting the Commodity Futures Trading Commission (CFTC) greater oversight authority.

Q2: Why did Bitcoin mining stocks rise after the winter storm?
The storm forced many US-based miners offline, causing a sharp drop in the total Bitcoin network hashrate. This reduced competition for block rewards, making mining more profitable for the companies that remained operational, which boosted their stock valuations.

Q3: How does a lower Bitcoin hashrate affect mining profitability?
Bitcoin’s protocol adjusts mining difficulty periodically. A sudden drop in hashrate means the active miners have a higher probability of solving the next block and earning the Bitcoin reward (currently 3.125 BTC plus fees), thus increasing their immediate revenue.

Q4: What did the PayPal survey reveal about crypto adoption?
The survey found that almost 40% of US merchants now accept cryptocurrency. It also showed strong belief in future growth, with 84% of merchants expecting crypto payments to be mainstream within five years, though simplification of payment technology is seen as a key hurdle.

Q5: What is the significance of Senator Klobuchar’s amendment to the crypto bill?
Senator Klobuchar’s amendment would prevent the DCIA from taking effect until the CFTC has at least four confirmed commissioners. This could delay the implementation of new crypto market rules, depending on the speed of Senate confirmations, and ensures the regulator is fully staffed to handle its potential new responsibilities.