House Ag Committee Holds FTX Hearing

On May 12th, the House Agriculture Committee held a hearing on “Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models.” Committee Chairman David Scott (D-GA) said that he had serious concerns about the risks the FTX proposal would pose to derivatives markets’ primary functions of price discovery and risk hedging. Several members on both sides of the aisle voiced concerns that FTX’s proposal would lead to either FTX or other exchanges offering a similar model for traditional ag commodities such as cotton which would be problematic for commercial hedges. CME Group CEO Terry Duffy said that, if the Commodity Futures Trading Committee (CFTC) approves this proposal for FTX, he will have no choice but to begin offering similar lower-cost products with less risk controls for traditional markets to remain competitive. Duffy said that the CFTC should approach this issue through a CFTC rulemaking process, not through the approval of a single proposal.

More here.

More Advocacy Issues

ACSA Update: The Week Ahead

January 5^th, 2026

Please use the link below for a glance at the upcoming events for the week of January 5. Document here.

Seasonal Ag CDL Modernization Act

December 10^th, 2025

ACSA is urging support for S. 2909, the Seasonal Ag CDL Modernization Act. The bill would allow online renewal of restricted CDLs, align federal definitions of “implements of husbandry” with existing FMCSA policy, and reduce compliance burdens for rural seasonal drivers, while maintaining all current safety requirements. Letter here. Paper here.

CCC Cotton Storage Deficit Area

November 21^st, 2025

The USDA has designated Missouri and Texas as storage deficit areas for the 2025-crop Cotton Marketing Assistance Loan program. ACSA will continue to monitor these developments. More here.

CORCA Coalition Letter

November 18^th, 2025

ACSA joined 90 companies and trade associations in signing a coalition letter urging congressional leaders to swiftly pass the Combating Organized Retail Crime Act (CORCA), underscoring the broad industry support behind strengthening supply chain security. As cotton moves from raw fiber to finished goods, it is critical our product moves safely and expeditiously through the […]

ACSA Supports STB Nominations

November 4^th, 2025

ACSA joined leading agricultural organizations in urging the Senate Commerce Committee to confirm Michelle Schultz and Richard Kloster to the Surface Transportation Board. Both nominees bring critical experience and leadership needed to maintain reliable, competitive freight rail service. Their confirmation will help ensure continued efficiency and stability across the rail network that supports American export […]

Selig Nomination for CFTC Chairman

October 27^th, 2025

Over the weekend, President Trump selected Michael Selig as his nominee for Chairman of the Commodity Futures Trading Commission (CFTC), pending Senate confirmation. Selig currently serves as Chief Counsel for the Securities and Exchange Commission’s Crypto Task Force. Although Selig’s nomination has not been formally announced by the White House, see White House Crypto Czar David Sacks post on X here, and Selig’s […]