Market News

Lawmakers in the US Face Frustrations in Crypto Regulation Bill Negotiations

Negotiations concerning the United States’ crypto market structure bill have hit another roadblock.

Senator Bernie Moreno expressed frustration, stating that advancing a weak bill would be detrimental.

He emphasized that "no deal is better than a bad deal" while addressing attendees at the Blockchain Association Policy Summit.

Senators are working to resolve differences between competing drafts from the House and Senate regarding jurisdiction over digital assets.

Recently, the GENIUS Act, which provides a federal framework for stablecoins, was passed, marking a positive step in bipartisan agreement.

However, substantive progress on the broader regulatory framework remains elusive as lawmakers await further guidance from the White House.

Concerns about unresolved issues, including the regulation of decentralized finance and the treatment of stablecoin yield products, continue to complicate discussions.

As major banks begin discussing their strategies for engaging with crypto markets, the evolving regulatory landscape could define the future of digital assets in the US.

Congress faces a tight timeline, as political dynamics may bring legislative efforts to a halt ahead of the upcoming election season.

Ultimately, these ongoing debates will shape the structure and regulatory oversight of the cryptocurrency market for years to come.