The US Senate Banking Committee is edging closer to a bipartisan agreement on a crypto market structure bill, with a vote scheduled for next week. Despite progress, significant issues remain unresolved, including the treatment of decentralized finance (DeFi) and stablecoins. Industry insiders are preparing for a lobbying blitz to ensure their concerns are addressed.
Republicans are confident that a finish line is in sight, but Democratic negotiators have not committed to the rapid timeline proposed by committee Chairman Tim Scott. A recent document reveals that while main sticking points persist, numerous Democratic requests have been incorporated into the bill. The legislation aims to establish regulated crypto markets in the US, but key issues such as ethics, yield treatment, and developer protections remain under discussion.