PANews reported on October 10th that according to Crypto in America, negotiations between US Senate Republicans and Democrats on cryptocurrency market structure legislation have stalled after Democrats presented Republicans with a new proposal to regulate DeFi, which has sparked strong opposition within the industry. Republicans are frustrated that their Democratic colleagues continue to disagree on the DeFi issue and have provided little substantive feedback on the discussion draft. Despite "productive discussions" between the two sides in recent weeks, Republicans informed Democrats on Wednesday that negotiations are now suspended until a revision date is agreed upon - the Banking Committee leaders originally planned to revise it on September 30th. Multiple sources confirmed that Republicans have been trying to set a revised date for late October, but Democrats have been wary of formalizing it, stating they want more time to develop a bipartisan draft. With both sides blaming each other, it's unclear which side will yield first: Democrats agreeing to a revised date or Republicans returning to the negotiating table. The longer the impasse persists, the more likely it is that a bill will reach President Trump's desk until 2026, when Congress will undoubtedly turn its attention to the midterm elections and cryptocurrency policy will take a backseat.PANews reported on October 10th that according to Crypto in America, negotiations between US Senate Republicans and Democrats on cryptocurrency market structure legislation have stalled after Democrats presented Republicans with a new proposal to regulate DeFi, which has sparked strong opposition within the industry. Republicans are frustrated that their Democratic colleagues continue to disagree on the DeFi issue and have provided little substantive feedback on the discussion draft. Despite "productive discussions" between the two sides in recent weeks, Republicans informed Democrats on Wednesday that negotiations are now suspended until a revision date is agreed upon - the Banking Committee leaders originally planned to revise it on September 30th. Multiple sources confirmed that Republicans have been trying to set a revised date for late October, but Democrats have been wary of formalizing it, stating they want more time to develop a bipartisan draft. With both sides blaming each other, it's unclear which side will yield first: Democrats agreeing to a revised date or Republicans returning to the negotiating table. The longer the impasse persists, the more likely it is that a bill will reach President Trump's desk until 2026, when Congress will undoubtedly turn its attention to the midterm elections and cryptocurrency policy will take a backseat.
US cryptocurrency market structure talks stall after leak of Democratic DeFi proposal
PANews reported on October 10th that according to Crypto in America, negotiations between US Senate Republicans and Democrats on cryptocurrency market structure legislation have stalled after Democrats presented Republicans with a new proposal to regulate DeFi, which has sparked strong opposition within the industry. Republicans are frustrated that their Democratic colleagues continue to disagree on the DeFi issue and have provided little substantive feedback on the discussion draft. Despite "productive discussions" between the two sides in recent weeks, Republicans informed Democrats on Wednesday that negotiations are now suspended until a revision date is agreed upon - the Banking Committee leaders originally planned to revise it on September 30th.
Multiple sources confirmed that Republicans have been trying to set a revised date for late October, but Democrats have been wary of formalizing it, stating they want more time to develop a bipartisan draft. With both sides blaming each other, it's unclear which side will yield first: Democrats agreeing to a revised date or Republicans returning to the negotiating table. The longer the impasse persists, the more likely it is that a bill will reach President Trump's desk until 2026, when Congress will undoubtedly turn its attention to the midterm elections and cryptocurrency policy will take a backseat.
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The global crypto market cap rose 2% to $4.2 trillion on Thursday, lifted by Bitcoin’s steady climb toward $118,000 after the Fed delivered its first interest rate cut of the year.
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