Crypto bill deliberation reaches fever pitch between industry execs and US lawmakers
Tense deliberations over a crypto market structure bill escalated between industry leaders and US lawmakers following a leaked DeFi proposal.Summary
Deliberations regarding the crypto market structure bill reached a fever pitch in a tense meeting between US lawmakers and industry executives. The friction was fueled by a leaked Democratic proposal that sought to impose permissioned requirements, including KYC and AML regulations, on the decentralized finance (DeFi) sector, causing a public outcry.
Democratic senators reportedly accused industry executives of acting on behalf of the Republican Party and warned that continued public backlash against the bill could slow down its progress toward becoming law. Conversely, Bo Hines, former director of Trump’s Working Group on Digital Assets, criticized the Democrats for being upset that the crypto community reviewed policy proposals.
Despite the ongoing, weeks-long US government shutdown potentially stalling progress, lawmakers like Representative Bryan Steil remain optimistic that the CLARITY Act is still on track to be signed into law by 2026, hoping to resume momentum once the shutdown concludes.
(Source：Cointelegraph)