Crypto's Half-finished Legislative Agenda Teeters as CEOs Set Meeting With Democrats

Some of the apical integer assets execs are heading to a gathering this week with U.S. Senate Democrats to spot astir getting the marketplace operation measure moving.

Oct 20, 2025, 5:57 p.m.

There is simply a increasing consciousness that 2025 volition beryllium a bust for the long-awaited U.S. authorities to found a afloat regulated crypto sector, but negotiations successful the Senate tin astatine slightest physique momentum again, according to the sentiments of those acceptable to talk with Senate Democrats this week.

Crypto leaders specified arsenic Coinbase CEO Brian Armstrong, Chainlink co-founder Sergey Nazarov, Uniswap's Hayden Adams and Solana Policy Institute President Kristin Smith are preparing to conscionable with arsenic galore arsenic 10 Democratic senators, according to the expectations of radical progressive with the event, though the plans weren't yet finalized.

The Wednesday meeting, besides acceptable to see the chiefs of Kraken and Galaxy Digital, volition question to determination guardant from immoderate controversial treatment language that precocious emerged from the Democratic side. The decentralized concern (DeFi) ideas outlined were seen arsenic unworkable by manufacture insiders, threatening the negotiations implicit the crypto marketplace operation measure that would acceptable rules and authorities oversight for U.S. crypto markets.

The crypto chiefs anticipation to "get marketplace operation authorities backmost connected way and guarantee that communications with manufacture stay open," according to a spokeswoman from Chainlink. "Dialogues similar this are captious to making this a reality."

Earlier this year, Senators from some parties were optimistic astir finishing the authorities and getting it to the table of President Donald Trump, who already signed a measure into instrumentality that regulates U.S. issued stablecoins. While the House of Representatives already landed marketplace operation authorities with its Digital Asset Market Clarity Act, the Senate's advancement has slowed arsenic negotiations grew contentious and the national authorities unopen down for deficiency of an approved spending plan.

Trump's earlier deadline of August passed by, followed by a Sept. 30 deadline acceptable by Senator Tim Scott, the president of the Senate Banking Committee. As continually postponed plans for legislative markup dates slipped by, Senator Cynthia Lummis had precocious offered the extremity of the twelvemonth arsenic a much realistic target, though others are little hopeful.

"The United States Senate volition bash their job," said Mannar Hanna, a erstwhile wide counsel for Senator Scott who present works astatine APCO Worldwide, astatine a sheet during DC Fintech Week. He joked that it pained him to admit the House had already done its ain duty.

"I would accidental adjacent year," Hanna predicted for marketplace operation completion. "There's a batch connected Congress' sheet successful the adjacent mates of months."

Read More: Senate Democrats' Leaked Crypto Position Would Strangle DeFi, Industry Insiders Say

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