Sen. Moreno calls crypto bill talks ‘decently frustrating’ as Senate races toward year-end goal posts
Senator Bernie Moreno described negotiations on comprehensive crypto regulation as "decently frustrating" as the Senate aims for year-end legislative goals.Summary
Ohio Republican Senator Bernie Moreno stated that negotiations on a comprehensive bill to regulate the cryptocurrency market structure have been "decently frustrating" recently. The main hurdle involves clarifying jurisdiction between the SEC and CFTC and establishing consumer protections, following the summer passage of a stablecoin law. Moreno emphasized that he prefers "no deal is better than a bad deal" rather than passing flawed legislation. The Senate faces complexity as the House passed its version, the Digital Asset Market Clarity Act, in July, and the Senate Banking Committee must reconcile its draft with legislation from the Senate Agriculture Committee. While Senate Banking Chair Tim Scott suggested a markup hearing might occur around December 17 or 18, Senator Mark Warner indicated this timeline is difficult, citing pending White House input on quorum and ethics. Additional unresolved issues include stablecoin yield language and DeFi regulation, alongside Democratic concerns regarding potential conflicts of interest related to President Trump's family involvement in crypto ventures.
(Source：The Block)