Key Senate Democrat wants U.S. crypto bill to move, and SEC chief reveals danger of defeat

Senator Mark Warner, a key Democratic negotiator, expressed a desire for the U.S. crypto market structure bill to pass, emphasizing the need for safety, particularly concerning decentralized finance (DeFi) and illicit use. Meanwhile, SEC Chairman Paul Atkins testified that while his agency can issue clear, innovation-friendly rules now, these rules lack "future-proof" grounding without a supporting statute from Congress, warning against future backsliding. The legislation, which has passed the House and cleared a Senate committee, is currently stalled due to disagreements over stablecoin rewards and Democratic concerns about regulatory staffing and conflicts of interest involving government officials with crypto ties. Both Atkins and Warner stressed the necessity of durable, statutory backing for any regulatory framework to ensure long-term clarity for the crypto industry.

(Source：CoinDesk)