U.S. Senate Agriculture and Banking Committees Advance Crypto Market Structure Bill Review
Senate Democrats have resumed talks with industry leaders on the crypto market structure bill after delaying a vote, with Coinbase voicing strong opposition to its latest draft.
U.S. Senate Democrats restarted negotiations on the cryptocurrency market structure bill, engaging in calls with industry representatives after postponing a scheduled vote earlier this week. The most recent draft has faced significant pushback, notably from Coinbase, which stated it cannot support the bill in its current form. The legislation seeks to divide oversight responsibilities between the CFTC and SEC, establish DeFi regulations, set stablecoin yield limits, create tokenization frameworks, and set ethics rules for public officials, while certain provisions remain under White House review.
- Crypto Market Structure Bill: Proposed legislation outlining regulatory and operational frameworks for cryptocurrency markets in the United States.
- Decentralized Finance (DeFi): Blockchain-based financial services that operate without traditional intermediaries like banks, using smart contracts instead.
- Stablecoin: A cryptocurrency designed to maintain a stable value by pegging it to a reserve asset such as a fiat currency.