Senate Democrats, Crypto Industry to Resume Talks After Market Structure Bill Delay

U.S. Senate Democrats are scheduled to resume discussions with cryptocurrency industry representatives on Friday after a last-minute postponement of a Senate Banking Committee hearing for a sweeping digital asset market structure bill. The delay occurred after Coinbase, the largest U.S.-based crypto exchange, withdrew its support, citing concerns over stablecoin rewards and perceived excessive authority granted to the SEC. Coinbase CEO Brian Armstrong argued that crypto companies should be allowed to compete with banks by offering loans. Despite this setback, lawmakers like Senators Cynthia Lummis and Bill Hagerty expressed optimism that negotiations will continue toward a bipartisan agreement. Industry figures, including Kraken co-CEO Arjun Sethi, urged against abandoning talks, warning it would worsen regulatory uncertainty. A major sticking point remains whether stablecoin issuers can offer yield programs. While the Banking Committee markup was paused, the Senate Agriculture Committee is still expected to hold a hearing on January 27, as both committees' work must eventually merge before the bill can advance.

(Source：Bitcoin Magazine)