Hints of progress: State of Crypto
US policymakers are showing signs of progress on crypto legislation and regulation despite a challenging start to the year.Summary
Despite a rocky start, US policymakers appear to be making headway on cryptocurrency legislation and regulation. The White House is initiating discussions with banking and crypto industry representatives regarding stablecoin yield, which could inform negotiations on the Senate Banking Committee's market structure bill. Key areas of disagreement remain, including AML/KYC for DeFi, quorum requirements for regulators, and ethics provisions. Furthermore, the confirmation process for the Federal Reserve Chair nominee may temporarily take precedence over crypto legislation. Separately, the Senate Agriculture Committee advanced its version of the market structure bill on a party-line vote, deferring several amendments to the Banking Committee's jurisdiction. Meanwhile, SEC and CFTC chairs are pushing forward with rulemaking, with the CFTC directing formal rulemaking on prediction markets and tokenized collateral. The political landscape is influenced by significant super PAC funding ready to be deployed by crypto advocates.
(Source：CoinDesk)