Major Wall Street trade group SIFMA meets privately with crypto leaders on market structure bill
SIFMA and crypto leaders met to discuss a market structure bill, finding some common ground on DeFi but remaining divided on stablecoins.Summary
The Securities Industry and Financial Markets Association (SIFMA), a major Wall Street trade group, recently held private discussions with leaders from the cryptocurrency industry regarding proposed legislation concerning crypto market structure. These negotiations come as the Senate prepares for a vote on the bill. Sources indicate the meeting was “constructive” regarding decentralized finance (DeFi) regulations, suggesting potential areas of agreement. However, significant disagreements persist, particularly concerning yield-bearing stablecoins and potential regulatory exemptions. Stakeholders anticipate increased lobbying efforts and further negotiations as the Senate markup approaches, with bipartisan support for the bill still uncertain.
(Source：Crypto Briefing)